The Hobbit set to take $1B

20:28, Jan 22 2013
PJ
HITTIN' IT: Peter Jackson is about to hit the one billion dollar mark at the box office for the second time.

The Hobbit is forecast to rake in US$1 billion at worldwide box offices - only the 15th film to hit the milestone but Sir Peter Jackson's second time there.

Variety reports The Hobbit is forecast to take US$1b ($1.19b) at the box office by March.

By Monday the Wellington-made film had reached US$921 million ($1.01b) worldwide with Chinese release still to come on February 22.

Titanic, released in 1998, was the first film to hit the milestone.

It went on to make US$1.8b ($2.14b) Jackson's 2003 film The Lord of the Rings: The Return of the King was second, followed by 2006's Pirates of the Caribbean: Dead Man's Chest, 2008's The Dark Knight and 2009's Avatar.

Also largely made in Wellington, Avatar went on to rake in US $2.78b ($3.31b).Variety reports that The Hobbit will be the 15th film to hit the milestone.

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