Justin Timberlake, Carey Mulligan and newcomer Oscar Isaac star

A new trailer for the Coen Brothers‘ folk music movie Inside Llewyn Davis has been released. Watch it below.

The film is loosely based on The Mayor Of MacDougal Street, the posthumous memoir of Dave Van Ronk, a cult US folk artist who had connections with Bob Dylan and Joni Mitchell. Up-and-coming actor Oscar Isaac stars as a singer-songwriter navigating the New York folk scene in 1961.

The strong supporting cast includes Justin Timberlake, Carey Mulligan, John Goodman, Garrett Hedlund and Adam Driver from Girls.

The film’s soundtrack was produced by T-Bone Burnett, who also worked with the Coen Brothers on O Brother, Where Art Thou?. It features a mix of classic folk recordings and original songs, with Timberlake and Marcus Mumford of Mumford and Sons both contributing. Click here to listen to ‘Fare Thee Well (Dink’s Song)’, Marcus Mumford’s collaboration with star Oscar Isaac.

Inside Llewyn Davis won the second most prestigious prize, the Grand Prix Award, at this year’s Cannes Film Festival, and according to Paddy Power it’s seventh favourite to take home the Best Picture gong at next year’s Oscars with odds currently at 14/1. It opens in US cinemas on December 20 before getting a UK release on January 14, 2014.