[Movies] The Hobbit Trilogy Has Cost $561 Million So Far
Posted by Joseph Lee on 10.07.2013
Double that of The Lord of the Rings trilogy...
Variety reports that Peter Jackson's Hobbit trilogy has cost $561 million so far, double the amount the Lord of the Rings trilogy cost. It includes the 266 days of principal photography last year, but not the two months of "pick-up" shots this year. There will probably be more post-production costs as the next two movies are finished. As of March 31, it cost 676 million New Zealand dollars, which equals $561 million. The documents were filed Friday in New Zealand, where the films are being made.
Warner Bros and Peter Jackson probably won't care about how much the films have cost, as the first film in the trilogy (The Hobbit: An Unexpected Journey) has already earned over $1 billion.
The documents were filed by New Zealand's Companies Office. Usually, studios only release rough estimates of production costs. When making the film Warner Bros created a New Zealand-based company called "3 Foot 7 Ltd", a reference to hobbits and dwarves. New Zealand taxpayers have added NZ$98 million through an incentive plan designed to get big budget films in the country. This has been used in the past by other countries and even several US states.
This is looking like the most expensive movie production in which two or more movie are shot at the same time. Box Office Mojo and Guinness World Records say the most expensive single movie ever made was Pirates of the Caribbean: At World's End with an estimated $300 million production budget. This goes with Pirates of the Caribbean: Dead Man's Chest, which was shot at the same time. It previously held the record of total production, with an estimated $450 million to $525 million.
Box Office Mojo adds that Jackson's Lord of the Rings trilogy cost $281 million. The Star Wars prequel trilogy cost $343 million.
Jackson shot the films in both 3D and at 48 frames per second (instead of the usual 24) to give audiences greater picture clarity and a more "immersive" experience. Both techniques added to the price tag. The higher frames received mixed reviews, along with the film itself.
The trilogy, starring Martin Freeman as Bilbo Baggins, is based on J.R.R. Tolkien's novel of the same name. It follows Bilbo as he tries to help of dwarves get back their wealth and stature from the dragon Smaug. It's a prequel to The Lord of the Rings. The next film, The Desolation of Smaug, will be out in December. The Hobbit: There and Back Again arrives in December 2014.