As first noted by TheOneRing.net, there are only a few seconds of new footage in the teaser, none of it especially consequential.
About 23 seconds in, you’ll see a different shot of Bilbo Baggins (Martin Freeman) as he’s greeted by Gandalf (Ian McKellen). Then at 1:57, Bilbo peering through the branches of a tree and a long shot of Bilbo, Gandalf and the dwarves running through a forest replaces a brief battle scene.
“The Hobbit: An Unexpected Journey” opens in theaters on Dec. 14. Take a look at the new(ish) trailer: