Pete's Dragon trailer: Could this enchanting tale be Disney's next big hit?

The next in line of the studio's flurry of remakes, this new film adapts the 1977 animation/live-action hybrid of the same name

An interesting move in Disney's full-on remake assault on its archives, 1977's quaint animation/live-action hybrid Pete's Dragon isn't exactly the sacred grounds of Beauty and the Beast or The Jungle Book.

Possibly for the better, since it's granted the studio an absolute sense of freedom in its approach to revisiting its tale of a friendship between a young boy and his dragon pal. First off, they've gambled with a fantastically visionary director, David Lowery, who's previous film Ain't Them Bodies Saints versed in the poetic Neo-Westerns of the 1970s.

Big-budgeted family adventures may seem an intimidating step for Lowery, but it looks like Disney's faith in his vision may pay out handsomely.

The new trailer for the film is awash with rich visuals, a contemplative tone, and a sweeping romantic heart; it's certainly one to get excited about, and there's an earnestness and soul already apparent here that could very well deliver Pete's Dragon as the studio's next big hit.

Set around the late '70s and early '80s, Pete's Dragon sees Oakes Fegley as Pete, the 10-year-old discovered living alone in the woods by forest ranger Grace (Bryce Dallas Howard); that is, alone outside of the beast he calls Elliott, whose descriptions seem to match the fierce dragon populating the tall tales of Grace's father (Robert Redford). The film also stars Oona Laurence, Wes Bentley, and Karl Urban.

Pete's Dragon hits UK cinemas 12 August.