- Jul 31, 2021
Lord of the Rings is one of the most popular series of movies to exist to date. The famous franchise will soon be rendered into a new TV series that is expected to become the most expensive TV series ever. For the making and production of the series, Amazon will receive more taxpayer subsidies from New Zealand.
The news comes straight from the New Zealand Minister of Economic Development Stuart Nash who on April 16th mentioned that Amazon is likely to spend almost 650 million New Zealand dollars which is roughly 465 million US dollars, in the country to make and produce the very first season of the Lord of the Rings. 25% of the total amount which is roughly 116 million US dollars will be received. Interestingly, the subsidy for the same has increased from the previous 20%.
This has been stressed time and again that Bezos’s Amazon is an integral and important part of the production of the new TV series. A few reports have claimed that Amazon’s stock market value is $1.68 trillion which is eight times the size of the New Zealand economy.
The production of the new series will be used to amplify tourism in the country. Nash had mentioned that under the current agreement that the country has signed with Amazon, the country can utilize any lens for international tourism promotion, arrange for interns during the production process, while also send an invite to Amazon employees to visit the country. He said, “The agreement with Amazon…will create local jobs and jobs for local companies. This will bring a new round of international tourism brand promotion to this country.”
In the first quarter of its production in 2020, the TV series makers hired more than 1200 local people, and another 700 people for indirect employment.