In the new clip, which you can watch above, Bilbo Baggins and 13 dwarves set out on a quest to defeat an evil dragon and recapture the treasure of Lonely Mountain. As you can see, this trailer is far from the dramatic teaser fans first saw last year; this time around, Jackson instead leans heavily on hobbit and dwarf hijinks. Also spotted: Ian McKellan as the all-knowing Gandalf the Grey, Cate Blanchett as the Elvin ruler Galadriel and Hugo Weaving as Rivendell master Elrond. (Not spotted: Smaug the dragon.)
Jackson also recently announced that "The Hobbit" would be split into three movies instead of its originally planned two. As the director said back in July, "We recognized that the richness of the story of 'The Hobbit,' as well as some of the related material in the appendices of 'The Lord of the Rings,' gave rise to a simple question: do we tell more of the tale? And the answer from our perspective as filmmakers and fans was an unreserved 'yes.'"
The first chapter, "The Hobbit: An Unexpected Journey," is set to hit theaters December 14. "The Hobbit: There and Back Again," will get a December, 13, 2013 release date and the final film in the trilogy will reach moviegoers in 2014.