Warner Bros. Pictures has released the first trailer for The Hobbit: An Unexpected Journey. We’ve embedded the trailer in the video above–what do you think?

This J.R.R. Tolkien film adaptation is the first of a two-part series directed by Peter Jackson. So far, Jackson has posted four videos from the New Zealand set of The Hobbit on his Facebook page. More than 16,000 fans have hit “like” on Facebook upon the trailer’s release ten hours ago.

Here’s more from the video description: “[The film] follows title character Bilbo Baggins, who is swept into an epic quest to reclaim the lost Dwarf Kingdom of Erebor, which was long ago conquered by the dragon Smaug. Approached out of the blue by the wizard Gandalf the Grey, Bilbo finds himself joining a company of thirteen dwarves led by the legendary warrior, Thorin Oakensheild. Their journey will take them into the Wild; through treacherous lands swarming with Goblins and Orcs, deadly Wargs and Giant Spiders, Shapeshifters and Sorcerers.”

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Release dates have been announced for the Peter Jackson‘s two Hobbit movies.

According to Variety, The Hobbit: An Unexpected Journey will come out on December 14, 2012 and The Hobbit: There and Back Again will hit theaters on December 13, 2013. The video embedded above features a tour of The Hobbit‘s set.

Here’s more from the article: “Jackson began shooting the two films in New Zealand in 3D in mid-March with a cast including Martin Freeman as Bilbo Baggins and Orlando Bloom, Andy Serkis, Elijah Wood, Hugo Weaving, Ian McKellen and Cate Blanchett reprising their roles from The Lord of the Rings trilogy. Bloom joined the cast Friday to portray the elf Legolas.”

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Deadline New York reported: “Wood is confirmed to star in Peter Jackson’s The Hobbit to be shot in New Zealand. In addition, he has signed on to play ‘Ben Gunn’ in Stewart Harcourt’s adaptation of Robert Louis Stevenson’s Treasure Island along side Eddie Izzard.”

Besides Wood (pictured, via), other castmates returning from Lord of the Rings include: Cate Blanchett as Galadriel, Sir Ian McKellen as Gandalf, and Andy Serkis as Gollum. At the moment, Orlando Bloom is rumored to be considering his return as Legolas.

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The New York Times reports that Prime Minister John Key negotiated with several Hollywood executives to secure the location. The government agreed to provide special financing and introduce new labor legislation. They will provide $15 million for the two films’ production budget and an additional $10 million for marketing.

The article explained the labor complexities: “The legislation is expected to require workers to designate their status as an employee or a freelance worker when beginning a project, then stick with it, according to one person who was briefed on the talks but spoke anonymously because the agreement was not complete.”

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