Setting the scene
Hollywood had long treated fantasy as box-office poison after costly failures, and J.R.R. Tolkien's rights had trapped adaptations in development hell for decades. Peter Jackson, known in the 1990s for splatter comedies, convinced New Line to fund three Lord of the Rings films back-to-back in New Zealand with Weta Workshop effects. After Harry Potter proved young-adult literary worlds could print money, executives finally bet on Middle-earth.
What happened
The Lord of the Rings: The Fellowship of the Ring opened in the United States on December 19, 2001, with Elijah Wood as Frodo, Ian McKellen as Gandalf, and Viggo Mortensen as Aragorn. The nearly three-hour film followed the hobbits from the Shire through Moria and the breaking of the fellowship at Amon Hen. Howard Shore's leitmotifs and thousands of New Zealand extras sold Tolkien's scope as serious cinema, not camp.
Why it still matters
Fellowship grossed nearly $900 million worldwide, won four Oscars, and helped legitimize long-form fantasy for Game of Thrones and the MCU's cosmic arcs. New Zealand tourism surged as fans pilgrimaged to filming locations. Memorable detail: Sean Bean's Boromir death scene was filmed with the actor actually climbing a mountain in heavy armor because he insisted on doing the hike for real exhaustion on camera.
Background
Jackson's adaptation proved long fantasy could dominate global box office.