English Author J. R. R. Tolkien wrote the book The Hobbit, or There and Back Again, better known by its abbreviated title The Hobbit back in 1937 to wide critical acclaim. Tolkien said he originally wrote The Hobbit, with its adventures of halflings and goblins and elves, to amuse his children. This book is a classic in children’s literature and still remains popular in 2013.
Tolkien went on to write The Lord of the Rings as a sequel to The Hobbit but The Lord of the Rings developed into a much larger body of work containing three volumes. To date, The Lord of the Rings has sold over 150 million copies and goes down in history as not only one of the best-selling novels of all time but also one of the highest-grossing franchises.
Tolkien’s masterpiece has turned into a brand of epic proportions and continues to inspire music, films, television, video games and artwork. Peter Jackson’s film adaptations have not only grossed almost $2 billion dollars worldwide, but they have increased New Zealand’s tourism beyond anything they could have imagined happening when the country was selected to be the location where the movies are filmed.
We would like to thank Emily from Online MBA for sharing a video her team recently made breaking down the economic impact of this fantasy epic and encourage you to check it out.