LOS ANGELES: The movie remake of “The Great Gatsby,” starring Leonardo DiCaprio, has been moved for release to the summer of 2013 from December 2012, putting it out of contention for this year's Oscars.

Movie studio Warner Bros said it felt the latest film from Australian director Baz Luhrmann would play better in the summer, given the 3D adaptation of F. Scott Fitzgerald's classic novel and good reactions to early sneak peeks.

“The responses we've had to some of the early sneak peeks have been phenomenal, and we think 'The Great Gatsby' will be the perfect summer movie around the world,” Veronika Kwan Vandenberg, international distribution president for Warner Bros. said in a statement.

Warner Bros released a first official trailer for the movie in May and it was initially scheduled for release in the United States on Christmas Day, making it eligible for 2012 Academy Award consideration.

The remake, which keeps the story in the 1920s, but features music from the likes of rappers Jay-Z and Kanye West, and indie singer Jack White, was seen by movie watchers as a possible Oscar contender.

The summer movie season, however, is the most lucrative period for Hollywood, packed with action-thrillers, super heroes and special effects productions.

The new adaptation of the tale of the corrupting influence of wealth also stars Tobey Maguire and Carey Mulligan. Robert Redford and Mia Farrow starred in a 1974 film version.

Warner Bros. said that the Luhrmann version “brings Fitzgerald's American classic to life in a completely immersive, visually stunning and exciting way. We think moviegoers of all ages are going to embrace it, and it makes sense to ensure this unique film reaches the largest audience possible.”