Ten-year-old Oscar nominee Quvenzhané Wallis will be starring in the newest version of Annie the movie musical.

Wallis will be headlining in her first-ever musical along with Hollywood a-listers including Jamie Foxx as Benjamin "Daddy Warbucks" Stacks and Cameron Diaz playing the wicked Miss Hannigan, reports Yahoo!.

The first official trailer spanning thirty-seconds and the preliminary movie poster were released Wednesday. The video shown below shows that a lot has changed since the original 1977 Broadway musical and its 1982 film adaptation that takes place in the 30s:

The film is a modern-day silver-screen adaptation of the classic story that will still the classic tunes "Tomorrow" and "It's the Hard Knock Life," with a more urban hip-hop feel.

The official synopsis of the film is as follows:

Academy Award® nominee Quvenzhané Wallis (Beasts of the Southern Wild) stars as Annie, a young, happy foster kid who's also tough enough to make her way on the streets of New York in 2014. Originally left by her parents as a baby with the promise that they'd be back for her someday, it's been a hard knock life ever since with her mean foster mom Miss Hannigan (Cameron Diaz). But everything's about to change when the hard-nosed tycoon and New York mayoral candidate Will Stacks (Jamie Foxx) - advised by his brilliant VP, Grace (Rose Byrne) and his shrewd and scheming campaign advisor, Guy (Bobby Cannavale) - makes a thinly-veiled campaign move and takes her in. Stacks believes he's her guardian angel, but Annie's self-assured nature and bright, sun-will-come-out-tomorrow outlook on life just might mean it's the other way around.

Variety notes that the project was penned by Emma Thompson and Aline Brosh McKenna and directed by Will Gluck, the director of Easy A and Friends with Benefits. The film is schedule to hit theaters Dec. 19, in time for the Christmas season.

Click here to see the poster and gallery of the photos from the Annie set.