Bill & Ted: Face the Music is set to release Summer of 2020.

In the trailer released this morning, the iconic duo appear to use time travel, songwriting, and even debate intellectual property laws.

The website for the movie gives a premise for the plotline:

A visitor from the future tells best friends Bill and Ted that one of their songs can save life as we know it and bring harmony to the universe.
Whatever I hear about it, I'm going to go sit in the theater with the biggest size popcorn and watch the crap out of this one.