Los Angeles, March 16 : Actor Austin Butler's upcoming movie 'Elvis' on the rock-and-roll legend is all set to have its world premiere at the Cannes Film Festival, according to 'Variety'. Directed by Baz Luhrmann, the drama film also stars Tom Hanks. The movie currently has a June 24 release date, which means it could not open the festival unless Warner Bros. Pictures decides to have it bow on May 17 to kick off the milestone 75th edition. Cannes introduced a new rules several years ago that require every opening night movie to be released on the same day in French theatres. Luhrmann previously opened the French Riviera festival with a bang with 'Moulin Rouge!' in 2001 and 'The Great Gatsby' in 2013. Besides Butler, who stars as the King, and Hanks, who stars as Col. Tom Parker, Presley's all-controlling manager, the cast also boasts Olivia DeJonge and Natasha Bassett. The trailer was released last month and garnered positive buzz. Luhrmann's first movie since 'The Great Gatsby', 'Elvis' explores the life and music of Elvis Presley, seen through the prism of his complicated relationship with his enigmatic manager. The story delves into the complex dynamic between Presley and Parker spanning over 20 years, from Presley's rise to fame to his unprecedented stardom, against the backdrop of the evolving cultural landscape and loss of innocence in America. Central to that journey is one of the most significant and influential people in Elvis's life, Priscilla Presley (DeJonge). Luhrmann wrote the script with Craig Pearce. Variety had predicted the film will play at Cannes, along with 'Top Gun' and George Miller's new film 'Three Thousand Years of Longing', David Cronenberg's 'Crimes of the Future', Hirokazu Kore-eda's 'Broker' and Park Chan-wook's 'Decision to Leave', among others. The Cannes Film Festival's Official Selection will be unveiled at a press conference in Paris during the second or third week of April. The fest is set to take place May 17-28 with new sponsors including TikTok and Brut, as well as French public broadcaster France Televisions. /IANS