The "Lord of the Rings" prequel "The Hobbit" is already on its way to legendary status in Hollywood.
The first film in the "Hobbit" trilogy raked in $37.5 million on its opening day, the largest December opening-day gross in history.
The film is well-positioned to take in around $100 million during it's three-day opening weekend, surpassing "I Am Legend" for the title of biggest-ever December opening.
The film is directed by Peter Jackson, who returned to Middle Earth a decade after making the acclaimed "Lord of the Rings" trilogy based on the classic fantasy world of J.R.R. Tolkien.
"The Hobbit: An Unexpected Journey" tells the first part of the tale of Bilbo Baggins, as related in Tolkien's book of the same name.
It takes place some 60 years before the events of "The Fellowship of the Ring," and recounts how the One Ring that caused so much trouble in those stories came to be found after being lost for thousands of years.
Bilbo, played by Martin freeman, now a fine hobbit of middle years, enjoys a quiet life before being roused for an adventure by the inscrutable wizard Gandalf, once again played by Ian McKellen.
He joins a band of dwarves on their quest to reclaim their mountain kingdom from the depredations of a terrible dragon, the great wyrm Smaug.
Tolkien's evocative writing gave a distinct voice and personality to each of the twelve dwarves on the journey, and filmmakers and special effects and costume designers slaved to make each dwarf visually distinct so viewers would feel the same sense of individuality as a reader.
The first installment takes Bilbo and his dwarven companions across Middle East, east towards the Lonely Mountain.
The companions are captured by goblins, but escape with the aid of Gandalf, and Bilbo becomes lost.
He encounters the wretched creature Gollum, and steals his precious ring after a game of riddles.