Originally Posted by QuestLord
Throw some Silmarillion in there!

Just to clarify, the rights to the Silmarillion lie with the Tolkien estate. So they can't use any of that stuff (unfortunately). I'd love to see a Beren & Luthien film, or even better, the grimdark Children of Hurin.

Originally Posted by Peter Jackson
The Silmarillion is the big volume, but that’s owned by the Tolkien estate. It’s not owned by Warner Bros. or MGM — and I don’t think the Tolkien estate are very fond of these movies, so I wouldn’t expect to see The Silmarillion any time soon.

Where the Hobbit is being fleshed out, it is using material from the LOTR Appendices. This is good, but don't expect to see any references to the Elder Days or Morgoth (who may, possibly, have been Smaug's creator - or at least was ultimately responsible for his existence).