‘Dumbo’ is a huge risk for Disney — but it could pay off

“Dumbo” dropped.

The new trailer for Disney’s live-action remake of the 1941 circus flick debuted Wednesday.

It’s unusually emotional for a teaser. The titular elephant is beautifully animated and a cover of the original’s most popular song, “Baby Mine,” sung by Aurora, plays in the background. The movie looks like Tim Burton’s best art-directed film in years.

But it’s also still a big risk for Disney.

The studio’s reimaginings of its animated classics have been up and down at the box office. “The Jungle Book” made $364 million domestically in 2016, and 2017’s “Beauty and the Beast” made $504 million. But “Pete’s Dragon” only dragged in $76 million in 2016. “Dragon,” which was excellent, fared worst because its 1977 predecessor hasn’t stood the test of time.

Similarly, “Dumbo,” a World War II-era sorta-musical, and Disney’s fourth-ever movie, doesn’t resonate with kids today as powerfully as “Snow White” (princess! songs!), “Pinocchio” (songs! toys!) and “Cinderella” (princess! songs! pigeons who do your chores!) do. “Dumbo” is more low-key than those popular titles.

So Disney’s challenge will be to make kids discover the heartfelt tale with sumptuous visuals anew.

And, if they succeed, their box office receipts could be as high as an elephant’s eye.