It's basically the equivalent of Disney's Dinosaur, which the company is considerers an animated movie. To me, it's just a CGI remake which I thought no fan would want.
Also, I believe, that like Jungle Book, which only one human character, a lot of the backgrounds have been filmed on location, so it's not 100% animated.
Apparently “Can You Feel The Love Tonight?,” “Hakuna Matata,” “I Just Can’t Wait To Be King,” and “Circle of Life” will be in the film but "Be Prepared" will not.