The time of the year where cinema-lovers can rejoice is finally here. We're talking about the Cannes Film Festival.

The Cannes Film Festival is Cannes, France's annual film festival that previews new films of all genres as well as documentaries from around the world.

The grand festival was founded in 1946 and is considered to be one of the most prestigious and publicized film festivals in the world.

The 12-day event, which usually takes place in May, is held at the Palais des Festivals et des Congres in Cannes.

This year, the festival will begin with the premiere of "Grace of Monaco," starring Nicole Kidman as Grace Kelly. The 1960s Grace Kelly biopic focuses on Kelly's years as a princess during the time she was offered the chance to return to Hollywood by Alfred Hitchcock.

Kidman arrived at the Cannes "Grace of Monaco" photo call Wednesday afternoon with a classic all white outfit and a bold red lip. She wore an Altuzarra dress from Altuzarra's Fall 2014 collection and finished the look with silver jewelry accessories, Oneindia Boldsky reports.

Although Kidman stunned at this afternoon's photo call, the same cannot be said for her film "Grace of Monaco."

Following a press screening of the film on Wednesday afternoon, critics have weighed in on the film and do not seem too pleased with how it turned out.

The Hollywood Reporter's Stephen Dalton called the film "a stiff, stagey, thuddingly earnest affair which has generated far more drama off screen than on."

"Is it even possible to make a boring film out of this rich, juicy, gossipy material? It would seem so," he said.

Even the Royal family of Monaco spoke out against the film, with Stephanie of Monaco saying that the film is inaccurate.

Ouch.

Despite the lackluster premiere at the opening of the Cannes Film Festival, there are still many films to look forward this year, including "The Homesman" by Tommy Lee Jones, "Still the Water" by Naomi Kawase, "Timbuktu" by Abderrahmane Sissako and "Wild Tales by Argentine director Damián Szifrón.

Szifrón is the only South American representative in the line-up of the Cannes Film Festival films as reported by HitFilx.

The 38-year-old director is best known for his television series "The Pretenders." His debut feature, 2003's "Bottom of the Sea," won a handful of smaller festival awards. "Wild Tales" is his third feature.

Good luck to Szifrón and the rest of the film's at this year's Cannes Film Festival!