Here's the trailer for the new Will Smith movie Netflix paid a reported $90 million for

Netflix's upcoming Will Smith blockbuster "Bright," which the company reportedly shelled out more than $90 million for after a two-week bidding war, has its first trailer.

The movie is a cop thriller set in a world that is similar to our own in time period, but contains fantasy creatures like orcs and elves.

The teaser trailer starts out looking like a typical cop movie set in Los Angeles and then - BOOM - there's an orc carrying a shotgun:

Here's the trailer:

"Bright" is Netflix's biggest push yet into blockbuster films. This purchase significantly outstrips the $60 million Netflix paid for Brad Pitt's "War Machine," which has not yet been released.

Netflix reportedly fought off multiple other bidders, including Warner Brothers and MGM, both of whom would have given the movie a wide theatrical release.

Netflix's commitment to "day-and-date releases," meaning that movies are available to stream on Netflix the same day they arrive in theaters, will likely limit how many big screens show "Bright." Theater giants like Regal have publicly denounced this release policy, and Netflix's previous films have seen very limited theatrical releases.

But Netflix derives its value from subscriptions, and securing a possible franchise blockbuster like "Bright," along with a big name like Smith, could lure people onto the platform.