Elijah Wood Says Starring in ‘The Lord of the Rings’ Was a Financial “Gamble”

Elijah Wood has said that the cast and the studio faced financial risks when they played Frodo Baggins in the ‘Lord of the Rings’ trilogy.

He clarified that New Line Cinema took a risk by simultaneously shooting all three films without knowing whether the first installment would be a hit.  Instead of the kind of profitable arrangements that would guarantee long-term financial security, the cast was paid relatively modest salaries in order to limit financial risk.

Wood noted that there was no chance for renegotiation based on the franchise's popularity because they weren't signing separate contracts for each movie.  He did admit, though, that participation in the trilogy was a once-in-a-lifetime event that would last a lifetime.

Wood denied rumors that he received $250,000 for ‘The Fellowship of the Ring’, but he did not reveal the precise amount, claiming it was unimportant.

Image Courtesy: Prime Video 

 Despite having a $281 million production budget, the trilogy made $2.9 billion globally.

 Despite the saga becoming one of the highest-grossing of all time, Cate Blanchett, who played Galadriel, reportedly remarked that "no one got paid anything" for their work on the movies.  Her remark amused Wood, who clarified that it was not intended to be resentful and that being a part of the trilogy was still one of the best experiences of his life.

Other actors have also noted how little money they made from the movies.  Orlando Bloom disclosed in a 2019 interview that he received $175,000  for the three films taken together.

 New projects in the ‘Lord of the Rings’ franchise are planned for the future.  Warner Bros. has revealed intentions to release more Middle-earth movies, starting with ‘Lord of the Rings: The Hunt for Gollum’ in 2026.  The spin-off will not be divided into two parts, according to screenwriter Philippa Boyens.

–Farheen Ali