Tristar has released the trailer to "Ricki and the Flash" starring Meryl Streep and directed by Oscar winner Jonathan Demme.

The movie tells the story of a musician who gives up everything for her dream of rock-and-roll stardom and returns home, looking to make things right with her family.

The trailer features a number of emotional scenes and also shows off Streep's comic timing. Streep is also unrecognizable as she is covered in rock and roll attire.

The movie has been on the radar for some time as pundits expect it to go all the way to the Academy Awards. Streep is the record-holder as the most nominated actor of all time with 19 and has won three Oscars. While she is not nominated for all the work she does, in recent years Streep has been a favorite of the Academy. In the last 10 years, Streep has been nominated six times and has won once for her work in "The Iron Lady." Other nominations have come from "Into the Woods," "August: Osage County," "Doubt," "Julia and Julia" and "The Devil Wears Prada." This could become her 20th Oscar nomination.

The quality of "Ricki and the Flash" has not been tested as of yet, but the caliber behind the scenes seems very promising. Oscar winner Diablo Cody wrote the script and, while her own directorial debut was a mess, she wrote the Oscar-winning script "Juno" as well as the acclaimed Jason Reitman film "Young Adult."

The director, Demme, has been in charge of directing some of the great American classics. He won an Oscar for his work on "The Silence of the Lambs" and since then has directed "Rachel Getting Married," which led to Anne Hathaway's first Oscar nomination, as well as "The Manchurian Candidate" starring Streep. He also directed the Oscar winning film "Philadelphia," which gave Tom Hanks his first Oscar. Demme has not directed many features but to this point most of his films have been well received and have received a plethora of awards.

Sony is releasing the movie in the summer which may be a bad sign for awards. However, it is important to look at two of Streep's past Oscar nominations. In 2006, Streep received an Oscar nomination for "The Devil Wears Prada," a film that was released in June and became a huge hit. Solid reviews and audience reactions helped elevate the film's status. Three years later, Sony released "Julie and Julia" in August and the film became a box office hit that resonated with audiences and Academy voters.

It is also important to remember that a number of recent summer movies have made it all the way to Best Picture nominations. Last year, "Boyhood" became a front runner at the Oscars, and in summer of 2011 "The Help" was released. The Best Picture winners "Gladiator," "The Hurt Locker" and "Crash" are among the Oscar-winning films that were released in the summer.

"Ricki and the Flash" also stars include Kevin Kline, Tony Award winner Audra McDonald, Sebastian Stan and Streep's real life daughter Mamie Gummer. The film is slated for Aug. 7.