WELLINGTON, Aug 14 (NNN-AGENCIES) – The New Zealand government will no longer proceed with part of the deal to support “The Lord of the Rings” TV Series, Economic Development Minister, Stuart Nash said yesterday, following the decision by Amazon Studios to shift production of future seasons to Britain.
Amazon Studios announced earlier that, its untitled “The Lord of the Rings” original series will film Season Two in Britain.
The shift from New Zealand to Britain aligns with the studio’s strategy of expanding its production footprint and investing in studio space across Britain, with many of Amazon Studios’ tentpole series and films already calling Britain home.
Nash said, he was disappointed by Amazon Studios’s decision.
“The previously agreed Memorandum of Understanding (MoU) with Amazon Studios will no longer proceed in its current form. The 5-percent incentive previously offered on top of the standard 20 percent rebate for all international film productions is withdrawn,” he said.
As with every other international production, Amazon Studios is eligible for a 20-percent rebate on its qualifying production expenditure in this country, under the terms of the International Screen Production Grant, according to him.
It is estimated that Amazon Studios’ qualifying local expenditure totals around 663.74 million New Zealand dollars, so it could potentially be eligible for a 132-million-New Zealand-dollar rebate under the 20-percent rule.
“The international film sector is incredibly competitive and highly mobile. We have no regrets about giving this production our best shot with government support. However, we are disappointed for the local screen industry. Work will continue across the government on ways to keep supporting the sector,” Nash said.
Amazon Studios Vice President and co-head of TV, Vernon Sanders, thanked the government and people of New Zealand “for their hospitality and dedication and for providing ‘The Lord of the Rings’ series with an incredible place to begin this epic journey.”
Amazon Studios COO & Co-Head of TV, Albert Cheng said, Amazon won’t actively pursue the Season One MoU 5-percent financial uplift with the New Zealand government or preserve the terms around that agreement.
The highly anticipated “The Lord of the Rings” series, recently wrapped principal photography on Season One in New Zealand and is scheduled to premiere on Prime Video in more than 240 countries around the world on Sept 2, next year.
As a world-renowned literary work, and winner of the International Fantasy Award and Prometheus Hall of Fame Award, “The Lord of the Rings” was named Amazon customers’ favourite book of the millennium in 1999, and Britain’s best-loved novel of all time in BBC’s The Big Read in 2003. (1 U.S. dollar equals 1.42 New Zealand dollars)– NNN-AGENCIES
