Amazon's The Lord of the Rings TV series will reportedly have five seasons and cost $1 billion.
THR reports that Amazon's $250 million rights deal with publisher HarperCollins, New Line Cinema, and the Tolkien estate comes with the company's five-year commitment for the series. According to the terms of the deal, Amazon will reportedly need to begin production within the next two years.
While Peter Jackson's original trilogy of films reportedly only cost $281 million to make, THR is reporting that the entire series will cost more than $1 billion. According to recent reports by Reuters, the first two seasons could cost Amazon $500 million.
There's still no word on whether or not Jackson will be involved with the series as an executive producer but his attorney Peter Nelson has helped initiate a dialogue between Amazon and Jackson, THR reports.
"It's very much a creature of the times," Nelson said. "We are in an era where streamers are bidding up the price of programming. I think Amazon is taking a page out of the studios' emphasis on franchises. They also are realizing that with the overproduction of television, you need to get the eyeballs to the screen, and you can do that with franchise titles."
Amazon's ambitious TV series will take place before the events of The Fellowship of the Ring. The company hasn't revealed any plot details about its upcoming series.