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Hobbit costs double Rings trilogy, so far

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Making The Hobbit movie trilogy has cost more than half a billion dollars so far, double the amount spent on The Lord of the Rings trilogy.

That figure included the major shoots with actors, although there would likely be additional post-production costs as the next two movies were completed.

Through March 31, production had cost $676 million, according to financial documents filed Friday at the New Zealand Companies Office.

Distributor Warner Bros. and director Peter Jackson may consider it money well spent. To date, only the first movie in the latest trilogy had been released. The Hobbit: An Unexpected Journey took in just over $1 billion at the box office.

The financial documents provided a rare insight into the exact costs of a blockbuster Hollywood production. Often studios released only rough estimates, if anything.

When making the trilogy, Warner Bros. created a wholly-owned New Zealand company it named 3 Foot 7 Ltd, in reference to the diminutive stature of the movie’s hobbits and dwarves.

Company documents show that New Zealand taxpayers have so far contributed $98m to the trilogy through an incentive scheme designed to attract big budget movies to the country. Such schemes were common among US states and foreign countries that competed for movies.

The trilogy also appeared to be one of the most expensive movie productions in which two or more movies were shot at the same time.

Both Box Office Mojo and Guinness World Records estimated the most expensive single movie ever made was Pirates of the Caribbean: At World’s End with an estimated $360m production tag.

That movie, in conjunction with Pirates of the Caribbean: Dead Man’s Chest – which was shot at the same time – held the previous record for the most expensive total production, costing an estimated $540m to $630m.

According to Box Office Mojo, Jackson’s previous trilogy, The Lord of the Rings, cost a total $340m to make. The Star Wars prequel trilogy, meanwhile, cost $410m, according to Box Office Mojo, which tracked movie costs and box office receipts.

In making The Hobbit, Jackson chose to shoot both in 3D and at 48 frames per second, rather than the standard 24, in the hope of giving audiences greater picture clarity and a more immersive experience.

Both techniques added significant expense. The higher frames per second received mixed reviews, as did the movie itself, which starred Martin Freeman as the title character.

The trilogy was based on JRR Tolkien’s novel of the same name and traced the adventures of hobbit Bilbo Baggins as he attempted to help a group of dwarves regain their wealth and stature from the dragon Smaug.

The Hobbit was the prequel to Tolkien’s The Lord of the Rings, which was made into a movie trilogy that was also directed by Jackson.

The second movie in the latest series, The Hobbit: The Desolation of Smaug was due out in December while the final movie The Hobbit: There and Back Again, was due out in December 2014.

– AP

From www.stuff.co.nz


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