Hobbit director Peter Jackson's fears for the big screen
12 December 2013 Last updated at 16:34 GMT
Peter Jackson's latest cinema offering The Hobbit: The Desolation Of Smaug opens around the world this month.
It is the second of a three-film adaptation of JRR Tolkien's novel.
The cost of the trilogy is reported to have passed $500m, but given that the first film took more than £1bn at the box office, the franchise is still one of the most profitable in cinema history.
BBC Newsnight's Stephen Smith went to meet Peter Jackson to talk about the film.
Film clips courtesy of Warner Brothers