'The Lord of the Rings' Series Update: Costs Could Go Up to $1 Billion as Amazon Commits to Five-Seasons of Tolkien Adaptation
"The Lord of the Rings" is shaping up to the most expensive television series ever.
Amazon acquired the rights to the J.R.R. Tolkien epic last year in a $250 million mega-deal, which proved that the retailer giant's chief Jeff Bezos was not messing around when he said he wanted to make the next "Game of Thrones."
The Hollywood Reporter says that Amazon has now committed to five seasons of "The Lord of the Rings" series adaptation, and the costs could go north of $1 billion with casting, producers, and visual effects are considered.
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The deal also allows the company, if they needed, to use material from the film adaptations by Peter Jackson released under New Line Cinema, which did not have TV rights to the franchise.
Jackson could also end up being part of "The Lord of the Rings" series as an executive producer. His attorney Peter Nelson kickstarted the negotiations between the filmmaker and Amazon, describing the massive deal as "a creature of the times."
"We are in an era where streamers are bidding up the price of programming. I think Amazon is taking a page out of the studios' emphasis on franchises," Nelson told the abovementioned publication.
"They also are realizing that with the overproduction of television, you need to get the eyeballs to the screen, and you can do that with franchise titles," he went on to say.
At the moment, there is no word yet on who will make up the creative team that will put the "The Lord of the Rings" series together. With so much invested in the project, Amazon is expected to assemble the best team for the job.
It is a great risk to set in stone five seasons of a yet-to-be-released series not knowing how the first one will do, which is the same risk that James Cameron is taking with the next three "Avatar" films he has been working on simultaneously.
Amazon is, of course, making the most out of the deal so while "The Lord of the Rings" series could be the most expensive content to ever hit the small screen, it will hardly be the only Middle-Earth-set show that fans should look forward to.
A potential spinoff is also being considered as the retailer giant hopes to make full use of the rich lore and mythology they acquired after the mega-deal, which Greenberg Glusker attorney Matt Galsor who represented the Tolkien estate described as "the most complicated deal I've ever seen."
"It was handled relatively quickly, in a way that brought the parties together in a close relationship. It was tough, but everybody liked each other and felt like a team more as the deal closed," the lawyer said.
There is no word on when "The Lord of the Rings" series will see the light of day, but the terms of the deal require Amazon to start production within two years, which means more details on the cast, story, and release date should come to light in the months to come.
