VIDEO: Smaug threatens Bilbo Baggins in the final trailer for 'The Hobbit: The Desolation of Smaug'

LOS ANGELES - Peter Jackson and Warner Bros. released the third and final trailer for The Hobbit: The Desolation of Smaug online Tuesday morning.

The new trailer runs fourteen seconds longer than the first one at 2 minutes, 23 seconds.

The best part? All new footage shown for the first time.

The trailer starts off with Bilbo Baggins (Martin Freeman) talking to Smaug the dragon inside the Dwarven under The Lonely Mountain.

We see for the first time the Eleven King Thranduil (Lee Pace) talking to the Dwarves which are led by Thorin Oakenshield (Richard Armitage). The Dwarves are offered help, but they do not believe they can trust the elves.

The next scene has Tauriel (Evangeline Lilly) and Legolas (Orlando Bloom) fighting against various orcs.

The trailer then goes to the city of Laketown. Bard the Bowman (Luke Evans) warns the Dwarves they have no right to seek out the treasure in The Lonely Mountain, and when they do, they will bring ruin to his city.

Gandalf the Grey (Sir Ian McKellen) is then shown investigating the Necromancer. He realizes too late that the Necromancer is really Sauron who has returned and is building an army.

The scene changes to Bilbo. We hear him admitting he found something in the Goblin tunnels. Bilbo obviously means The One Ring, but instead of completely telling the truth, he instead tells Gandalf it was his courage he found.

After some quick action scenes, the trailer returns to The Lonely Mountain. For the first time we hear Smaug (voiced by Benedict Cumberbatch) talking to Bilbo, asking him to step into the light of his fire.

Watch the video below, or at: .

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