While it was never officially announced, the production budget of J.R.R. Tolkien’s The Hobbit seems to have been leaked a while back. The movie’s budget was rumored to be around $65 million — an unprecedented amount for an indie film and a clear indicator of just how much this production valued the fantasy world of Middle-earth. The film would go on to gross just over $400 million in its worldwide run, with the final figure being close to $500 million. These days, that’s a pretty good return on investment for a fantasy adventure that continues to resonate with audiences decades later. With ticket sales, dvds, and other streaming platforms, it seems evident that The Hobbit remains a much valued part of the Christmas and mainstream media landscape — and it’s not hard to see why. The film features an all-star cast and an amazing blend of live-action and animation, all brought to life through advanced computer graphics and special effects.
Why Is Middle-earth Such A Valuable Property?
It’s been three years since the release of The Hobbit, and even now, the effects of what was arguably one of the most ambitious movie productions of all time still reverberate through popular culture. Middle-earth is, at this point, inextricably linked to Tolkien’s name and literary legacy, and today, it remains one of the most recognizable and valuable properties in all of fiction. Just look at the numbers:
· The Hobbit has sold over 80 million copies worldwide (as of September 2020). · It remains the best-selling book of all time in the United Kingdom (1 billion+ copies sold). · In the U.S., The Hobbit has sold over 18 million copies since its initial release. · In 2020, a reissue of The Hobbit was the best-selling book in the country. · At the time of writing, there are over a hundred officially licensed products linked to Middle-earth, ranging from jewelry to clothing and collectibles. · The Hobbit has been adapted for various media, with board games, computer games, and a musical all soon to be released or coming soon to market.
More Than Meets The Eye
It’s not just about the money. Sure, the money is amazing, but it’s also about the creative satisfaction that comes with bringing fantasy to life on the big screen. The fact that Middle-earth continues to be valued so highly by Hollywood — and continues to grow in popularity — is a testament to just how well this small-scale production executed on its vision. Even now, three years later, it’s still considered one of the best movie experiences of all time.
The sheer volume of products linked to Middle-earth is a testament to the impact of The Hobbit on pop culture. Between film, TV, books, and other media, there’s something for everyone. Which is probably why, three years later, people are still talking about The Hobbit — and why it remains a valuable property that continues to this day to generate tons of sales.