As expected, Baz Lurhmann's adaptation of "The Great Gatsby" is bright and colourful. Like his previous films, his newest production is a feast for the eyes and a delight for the ears. And like the others, this one was welcome with over-the-top premiere as well.

The film had its star-studded black carpet New York Premiere last week for its U.S. debut on May 10. It will take almost two weeks more, however, for it to arrive in Australia, where the film was shot. It will have its Australian premiere on May 22, ahead of the start of its regular showing date on May 30, when the reviews from other countries have already been published.

It will also premiere at the Cannes Film Festival on May 15, where it is slated to be the festival opener.

Shot in Sydney, which is also Lurhmann's birthplace, it has attracted over $75 million in subsidies from the government. If it will be able to hit big in the box office remains to be seen, though. For now, the film is banking on marketing stratagems, including a seemingly lucrative partnership with famed jewellery store Tiffany, which unveiled a 1920s style collection for the film.

But if ticket sales depend on the film's review, it might not have much of a chance of breaking even with its budget of $127 million.

Initial reviews of the film are mixed, with many of thought that the film fell short of its expectations. Luhrmann has indeed taken the audience in the roaring twenties with the film's spectacular and colour shots, eye-catching costumes, and arresting scenes, but other than some breathless moments, there are a few scenes that were truly captivating.

"The cardinal sin of this new 'Gatsby' is that it's dull, and say what you will about Luhrmann's previous movies, that's not an adjective that usually comes up," The Wrap wrote in its review. "Here, sadly, you can hear the wheels of the plot grinding as loudly as Gatsby's custom Duesenberg."

Luhrmann did stay faithful to the plot of the classic 1925 novel by F. Scott Fitzgerald, though, just as he had done with his ultra modernised version of "Romeo + Juliet" in 1996.

"The Great Gatsby" reunites Luhrmann with Leonardo DiCaprio ("Romeo + Juliet"), who plays the titular Jay Gatsby. It also stars Carey Mulligan (Daisy Buchanan), Joel Edgerton (Tom Buchanan), Isla Fisher (Myrtle Wilson), Tobey Maguire (Nick Carraway), and newcomer Elizabeth Debicki (Jordan Baker).