Yeah, that was even brought up in one of my psych classes in college long ago. Very interesting phenomenon. It has been studied and verified. Also, it can be auditory. From Wikipedia;
"To find out whether the Kuleshov effect can also be induced auditorily, Baranowski and Hecht intercut different clips of faces with neutral scenes, featuring either happy music, sad music, or no music at all. They found that the music significantly influenced participants’ emotional judgments of facial expression."