Streaming platforms are spending record amounts on exclusive content, and one show stands out as the most expensive—Amazon’s The Lord of the Rings: The Rings of Power.

The series, based on J.R.R. Tolkien’s world, has already cost an astounding $400 million per season, with Amazon reportedly spending nearly $1 billion on the first five seasons.

Amazon’s decision to adapt The Lord of the Rings came after it acquired the TV rights for $250 million in 2017, with Jeff Bezos personally involved due to his passion for the franchise.

The first season, filmed in New Zealand, cost $350.7 million, including extravagant effects and extensive visual work. The second season, filmed in the UK, cost $458.2 million, and like New Zealand, the UK offers fiscal incentives for production, reimbursing up to 25.5% of costs.

While the massive budgets and visuals are impressive, viewership has been mixed, with only 37% of U.S. viewers finishing the first season.

Despite the high costs and controversies surrounding the cast’s diversity, The Rings of Power has generated significant attention, though it remains unclear whether Amazon will see a strong return on investment.