Yesterday Walt Disney Pictures gave us our first official look at John Lee Hancock’s “Saving Mr. Banks” with a production still tease. Today, via Moviefone, the studio has dropped the first trailer for the film.

The plot involves Walt Disney’s struggle to acquire the rights to P.L. Travers’s “Mary Poppins,” which was made into a film in 1964 and secured the film industry titan his first and only Best Picture nomination. Tom Hanks stars as Disney with Emma Thompson as Travers.

I’ve heard a lot of excitement behind the scenes about the awards season prospects of this one. Hancock has always been a workmanlike filmmaker, but has never really turned out much that registered in the Oscar race. “The Blind Side” changed all of that a couple of years ago and “Saving Mr. Banks” could be a significant film for him. Emma Thompson should certainly be in the lead actress race at the end of the day, with Hanks running in the supporting category (largely because it’s her story, but also because he has a big leading role in “Captain Phillips” on the way, as well).

Check out the new trailer below. “Saving Mr. Banks” arrives in theaters on December 20.