In a surprise deal last summer the Swedish gaming conglomerate Embracer Group bought the rights to both Lord of the Rings and The Hobbit.
According to Variety, Embracer Group paid SEK 4.2 billion, which is $395 million USD, to acquire the rights to Middle-Earth Enterprises from The Saul Zaentz Company in August 2022. At the time the deal was announced, both Embracer Group and Saul Zaentz Company declined to say how much the rights to Lord of the Rings and The Hobbit had sold for. It was estimated at the time that the worldwide rights to films, video games, board games, merchandising, theme parks, and stage productions were worth up to $2 billion. Turns out that the actual sale of the rights was far lower than the experts estimated.
Comparitively, Amazon is rumored to have paid $250 million for the rights to make Prime Video's Lord of the Rings television series, The Rings of Power, purchased directly from author J.R.R. Tolkien's estate. Amazon’s right to make a Lord of the Rings series longer than eight episodes was one of the few interests in the franchise that was not owned by Saul Zaentz Company.
Prime Video's Rings of Power Series
Following its premiere, it was reported that The Rings of Power had had issues with audience retention, with many viewers not completing the first season. However, this was dismissed by Amazon Studios CEO Jennifer Salke, who believes the streamer has a hit on its hands. "This desire to paint the show as anything less than a success — it’s not reflective of any conversation I’m having internally," she said in April, promising even more dramatic storylines for Season 2. "That’s a huge opportunity for us. The first season required a lot of setting up."
Amazon Studio's Head of Global TV, Vernon Sanders promised that the second season of The Rings of Power would include even "bigger battles" with "some iconic moments" from Tolkien's original works. "We are going to be able to put more money on screen, just in terms of the scale and scope of what we’re doing now that we know how to do it," he said.
The Rings of Power Season 1 was Prime Video’s most expensive show yet, with a reported budget of $465 million. At the moment, the Lord of the Rings prequel series is set to run for five seasons. Season 2 is currently filming in the United Kingdom and all of Season 1 of The Rings of Power is currently streaming on Prime Video.
Season 2 of Rings of Power does not yet have a release date.
Source: Variety