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Warner Bros. spent $1.2 billion to make all eight Harry Potter films. The new TV series reportedly costs $100 million per episode, which would make it the most expensive TV show ever produced. Amazon’s Rings of Power cost $58 million per episode. House of the Dragon, $20 million. Game of Thrones started at $6 million. HBO has planned seven seasons, one for each book, eight episodes per season. That’s 56 episodes. If the per-episode budget holds, the total production cost lands around $5.6 billion. Nearly 5x what all eight original films cost to make, and roughly three-quarters of what the entire franchise has earned at the box office ($7.7 billion) across 25 years. Three weeks ago, Paramount Skydance signed a deal to buy Warner Bros. Discovery for $31 per share, valuing the company at $110 billion including debt. Netflix was bidding too but walked away in late February. Harry Potter sits next to Game of Thrones and the DC Universe as one of the most valuable assets in that deal. WBD has about 132 million Max subscribers today and is projecting 150 million by December. The original films returned almost 7x their production budget at the box office. Generating that kind of return through monthly streaming subscriptions requires a completely different scale of audience, sustained over a decade. They’re reportedly building a “mini city” in the UK specifically for filming, with a price tag around $1.3 billion. A school is being constructed on-site for the child actors. Hans Zimmer is scoring the series. Over 30,000 kids auditioned for three roles. The average Harry Potter film cost $144 million to produce. A single episode of the new series reportedly costs $100 million. Warner Bros. is betting over $5 billion that a streaming franchise can match what a theatrical one did.

FIRST OFFICIAL PICTURE OF THE HARRY POTTER TV SERIES More to come tomorrow ⚡️

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