Hollywood often signs "use-it-or-lose-it agreements" where studios buy the rights to a franchise for a certain period, but they risk losing them if they fail to make a film within that period. This means they are under pressure to produce content quickly. For example, Sony committed to producing new films within 3 years and 9 months of their last release and must get them into theaters within 5 years and nine months of this. This has been standard in the industry for a long time, with the first film adaptation of “The Hobbit” in 1967 being produced in less than a month. However, the production was rushed to maintain the license to “Lord of the Rings” and sell it back to the Tolkien estate for a $100,000 profit. The same general rule applies to New Line Cinema, who are contractually obligated to produce new “L.O.R.W.