The Lord of the Rings trilogy was a massive undertaking by Peter Jackson, and it was a huge risk that eventually paid off critically, at the box office and even at the Academy Awards. The Return of the King had a historical night at the Oscars, winning in 11 categories, including Best Picture.
Article source: https://www.cinemablend.com/news/2496426/that-time-cate-blanchett-pitched-another-lord-of-the-rings-role-to-peter-jackson