Hobbit trilogy costs $700m

Its price tag: $700 million.

That means Peter Jackson's The Hobbit trilogy appears to be one of the most expensive movie productions where two or more movies are shot at the same time. Last year's The Hobbit: An Unexpected Journey took in just over $1.25 billion at the global box office.

The Hobbit: The Desolation of Smaug is due at the end of the year. The final movie, The Hobbit: There And Back Again, is due at the end of next year.

Get The New Paper for more stories.