The Hobbit trilogy costs exceed $500m
With more work still to go, Hobbit trilogy costs have almost doubled that of the entire Lord Of The Rings Trilogy, reports suggest...
The Hobbit trilogy is still shooting, with The Hobbit: The Desolation Of Smaug gearing up for release on the 13th December, and The Hobbit: There And Back Again set for release in 2014. With plenty of work still ahead on the combined production, it's being reported that costs have already exceeded the half billion mark, with the current total at $561m.
That figure is almost double the entire combined budget for the Lord Of The Rings trilogy, and covers 266 days of filming, two years of post-production, two months of additional shoots, and the higher effects budget. Another factor that would play into the increased budgets, aside from increased fees for those involved and inflation, is the decision to shoot in both 48 frames per second as well as 3D.
This isn't the kind of production where you would have thought studio heads would be worried that costs are spiralling out of control. The immense popularity of The Lord Of The Rings trilogy has earned Jackson some freedom, as well as ensuring a sizeable built-in fan base which has helped The Hobbit: An Unexpected Journey to take in excess of $1 billion at the global box office.
It's fair to guess that the other two instalments will take a similar amount, and when you factor in home video sales, which will inevitably see various releases over the coming years, Warner will ultimately make a very impressive profit. So even if the costs are considerably higher than the LOTR trilogy, this is still very much a sound investment for the studio.
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