'The Lord Of The Rings' TV Series Gets Multi-Season Commitment From Amazon
Every Tolkien fans dream has come true as Amazon gives the green light for "The Lord of the Rings" TV series. The deal will allow the studio to create a hit fantasy series of the "Game of Thrones" caliber which also includes a potential spinoff series.
Amazon has given the series a multi-season commitment in a deal with Warner Bros. TV and the Tolkien estate. News of the ongoing deal began to filter through the press earlier this month with reports that the series will be set in Middle Earth and serve as a prequel of sorts and will feature new storylines. This means that it will take place sometime before the events of the first film, "The Fellowship of the Ring."
The Tolkien estate had previously approached Amazon, Netflix and HBO for the project and came with an upfront rights payment said to be in the $200 million-$250 million range. Amazon won the rights by paying close to $250 million, just for the rights. This means that the streaming service is already a quarter of a billion in the hole before any costs for development, talent and production in a proposition which observers described as "insane."
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Insiders expect the budget for a fantasy series of that magnitude is likely to be $100 million-$150 million a season. This will prove to be a heavy burden for Amazon Studios which will produce "The Lord of the Rings" TV series in cooperation with the Tolkien Estate and Trust, HarperCollins, and New Line Cinema.
"'The Lord of the Rings' is a cultural phenomenon that has captured the imagination of generations of fans through literature and the big screen," said Sharon Tal Yguado, Head of Scripted Series at Amazon Studios. "We are honored to be working with the Tolkien Estate and Trust, HarperCollins and New Line on this exciting collaboration for television and are thrilled to be taking 'The Lord of the Rings' fans on a new epic journey in Middle Earth."
