The first trailer for the highly anticipated 'Annie' remake is here! The updated version of the film, which is now set in present day instead of during the Great Depression, features Quvenzhané Wallis as Annie, Cameron Diaz as Ms. Hannigan, Rose Byrne as Grace and Jamie Foxx as Will Stacks, the Daddy Warbucks-like character.

In the trailer, we get a feel for how the movie is going to go: it is much more comedic (Cameron Diaz's Ms. Hannigan throws in a line about marrying George Clooney) and much more modern (when Jamie Foxx's Stacks takes in Annie to help better his political campaign, she's wise to his motives). While we're not sure how we feel about all of the changes, fortunately, one thing stays the same: the heartwarming musical numbers ('It's a Hard Knock Life,' 'Tomorrow') still manage to shine through. After all, these songs are what make 'Annie' Annie.

While we are partial to the original film (and the Broadway show), we're anxious to see how the remake (which is being produced by Jay Z and Will Smith) looks in its entirety. It is set to hit theaters on Christmas 2014.

What do you think, PopCrushers? Are you excited to see the 'Annie' remake?