The last decade has produced the most expensive TV series in television history. Since the turn of the 21st Century, there has been an unprecedented focus and investment on the small screen. No longer confined to modest studio sets and simple storylines, today’s shows often rival blockbuster films in scope, effects, and ambition.
As streaming giants like Netflix, Amazon Prime, and Disney+ continue to compete for dominance, production costs have reached staggering heights. More often than not, episodes cost tens of millions to produce. With a growing attraction to the small screen, networks and streaming platforms are betting big on their original content. While some episodes are more expensive to produce, the list examines the total cost of production of the entire TV show.
15. Severance — $220 Million
The Apple TV+ sci-fi psychological thriller series Severance makes the list of the most expensive TV series ever made. The show debuted on February 18, 2022, and has released two successful seasons with 19 episodes. While there is no official confirmation for season 1’s production budget, Apple reportedly increased the budget for season 2. Each of season 2’s 10 episodes was produced with $10 million. This brings season 2’s cost to $200 million. Judging by the scale and set of the previous season, Severance’s production cost should be at least $220 million.
14. She-Hulk: Attorney at Law — $225 Million
The Tatiana Maslany-led cast of She-Hulk: Attorney at Law received generally positive reviews for the show. Although Marvel and MCU fans weren’t as enthused about the show as critics, Attorney at Law goes down in history as the MCU’s eighth TV series. The biggest shocker for fans was how expensive it was to make, compared to other less-expensive, successful MCU TV series. Each of the 9 episodes in the miniseries reportedly costs $25 million to make. This brings She-Hulk: Attorney at Law’s total cost to $225 million.
13. WandaVision — $225 Million
The Disney+ WandaVision was as expensive as it was successful. The show earned 23 Primetime Emmy Award nominations from its first season alone. With 9 episodes in total in season 1, WandaVision reportedly cost Disney $25 million to produce each episode. This brings the production budget of the Elizabeth Olsen-led TV series to $225 million for only its first season.
12. The Acolyte — $230.1 Million
It comes as no surprise that a Star Wars show would be among the top 5 most expensive TV series. The Acolyte (2024) is a prequel/sequel, set between the end of the High Republic and the Skywalker Saga. Amandla Stenberg led the cast of the short-lived series, which was canceled after its first season. While critics generally gave the show positive reviews, The Acolyte so divided dedicated Star Wars fans that it is considered one of the worst TV series in the franchise. However, the 8-episode season cost a staggering $230.1 million to produce.
11. Arcane — $250 Million
Despite taking about six years to make the first season, Arcane set an Emmy record. Arcane became the first streaming series to win Outstanding Animated Program at the Primetime Emmy Awards. Besides being considered one of the best video game-adapted series, the steampunk action-adventure animated series was critically acclaimed. Few TV shows boast a 100% approval rating for both seasons on Rotten Tomatoes. With the quality of its animation, it’s no surprise Arcane is listed as one of the most expensive TV series ever made.
According to public records, the show cost a combined total of $250 million to make both seasons. However, Riot Games co-founder and one of the show’s executive producers, Mark Merrill, disputed the cost, claiming it also includes marketing costs. According to him, “the $250 million headline is not even accurate because that includes marketing expenses. The actual creation budget is significantly less than that… I’ll give you a ballpark range. It’s somewhere between 60 to 75% of that estimate.”
10. Loki — $291 Million
Disney+’s Loki is an unsurprising entry as one of the most expensive TV series. Loki quickly became a fan favorite after being introduced in the MCU Phase One. With the character’s TV series greenlit for production, success was inevitable. However, to bring the show to fruition, the show cost Disney almost $300 million. Each episode in Loki season 1 reportedly cost $25 million to make, with a slight reduction in season 2 to $23.5 million. In total, all 12 episodes cost $291 million to make.
9. Citadel — $300 Million
Amazon MGM Studios has long proven it has no problem pouring millions of dollars into television projects if it believes it’ll succeed. While several of these shows became hits, others have struggled with ratings and viewership. The Richard Madden and Priyanka Chopra-led spy action series Citadel left critics and audiences with mixed reviews. With only 6 episodes in its first season, the show reportedly cost Amazon MGM Studios $300 million.
8. The Sandman — $330 Million
While audiences await the long-anticipated second season of Netflix’s The Sandman, it is important to know it isn’t cheap. While Netflix hasn’t confirmed the production cost for season 2, The Sandman season 1 cost the streamer $15 million per episode to produce. With 11 episodes in each season, assuming no increase in production cost, The Sandman is also one of the most expensive TV series, with production costs of at least $330 million.
7. See — $360 Million
Although the Apple TV+ sci-fi post-apocalyptic drama series was far from being critically acclaimed, it cost Apple over a quarter of a billion dollars to produce. The Jason Momoa and Alfre Woodard-led series aired for 3 seasons from November 1, 2019, to October 14, 2022. See season 1 was reportedly made with $120 million, with each of its 8 episodes costing $15 million. Despite the lack of updates on seasons 2 and 3 production costs, it’s safe to assume Apple didn’t increase production costs for the follow-up seasons. This would bring See’s total production cost to $360 million.
6. House of the Dragon — $360 Million
HBO’s award-winning fantasy drama series House of the Dragon is also one of television’s most successful and expensive prequel TV series. As audiences await its third season, the show’s first two seasons have already cost over $350 million. House of the Dragon season 1 reportedly cost $20 million per episode, bringing the season’s total to $200 million. Since season 2 had 8 episodes, and no official confirmation on the cost of production, House of the Dragon seasons 1 and 2 would have a combined production budget of at least $360 million.
5. The Mandalorian — $360 Million
The Disney+ space Western series The Mandalorian reportedly cost $15 million per episode in season 1. Although production budgets for the other follow-up seasons weren’t announced, the show ended with 24 episodes, with 8 episodes each season. The Mandalorian might have only had 3 seasons, but its production budget dwarfs several other TV series. At $15 million per episode, it cost Disney $360 million to produce the show.
4. Stranger Things — $450 Million
Netflix’s hit series Stranger Things is one of the streamer’s most successful original projects. With its fifth and final season scheduled to premiere sometime in 2025, Stranger Things has enjoyed a growing fan base. While earlier seasons’ production costs were not officially confirmed, Stranger Things season 4 costs $30 million per episode to produce. With 9 episodes in the season, season 4 cost Netflix $270 million. Unconfirmed reports put season 1 at $6 million per episode, season 2 at $8 million, and season 3 at $10 million per episode. While Netflix has yet to confirm production costs for Stranger Things season 5, the show has attracted an estimated production cost of at least $450 million.
3. Game of Thrones — $535 Million
HBO’s Game of Thrones aired for 8 seasons, pulling in a fanbase that included A-list stars and even the late Queen Elizabeth. Before the show became a global phenomenon, production costs were lower, reportedly costing about $6 million per episode from seasons 1 to 5. Although the pilot reportedly cost $5–10 million, season 1’s production cost never exceeded $60 million. By the sixth season, the total had risen to $100 million. However, Game of Thrones’ most expensive season was its eighth and final, which cost $15 million per episode. In total, HBO spent an estimated $535 million to produce Game of Thrones.
2. Andor — $645 Million
Andor is Disney+’s most expensive TV series ever. Produced by Lucasfilm, Andor has a production budget of $645 million. Season 1 reportedly had 3782 crew members for its production. Andor, created as a prequel to the 2016 Rogue One, is centered around Cassian Andor (Diego Luna). With season 2 as its final season, the series comprises 12 episodes, having one of the most expensive production budgets for each episode. Both seasons have been critically acclaimed, impressing both critics and the Star Wars fanbase.
1. The Lord of the Rings: The Rings of Power — $1 Billion
Amazon Prime Video’s adaptation of J. R. R. Tolkien’s epic universe set a new benchmark for TV spending. With a production budget of $465 million in the first season, The Lord of the Rings: The Rings of Power is the most expensive TV series ever made. With the show anticipating a third season, including the reported $250 million cost for purchasing the rights for the Tolkien estate, The Rings of Power’s production cost has exceeded $1 billion. As of 2025, The Lord of the Rings: The Rings of Power holds the record as the most expensive TV series in history.
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