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Peter Jackson Reveals First Production Video From Set of 'The Hobbit'

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Apr. 14 2011, Published 11:27 a.m. ET

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While Lord of the Rings fans still have oh, a few years to wait for The Hobbit Part 1 to be in theaters, at least director Peter Jackson is being kind and showing  what's going on in New Zealand! In a new 10-minute video clip, Peter gives everyone a taste of the filming, including time with castmembers Ian McKellan (Gandalf the Grey), Andy Serkis (Gollum) and Martin Freeman (Bilbo Baggins).

It must be a relief to those who love and work on the The Hobbit, as the film's production has suffered multiple setbacks, directorial changes and other obstacles before everything was finally sorted out and set in motion. Even better news — there will be two parts to the movie!

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OK! NEWS: THE HOBBIT BEGINS FILMING IN NEW ZEALAND; PETER JACKSON REVEALS FIRST PHOTOS!

As if anyone needs a reminder of how amped up we all are for the prequel to J.R.R. Tolkien's Lord of the Rings series, here's more evidence: When we started watching the clip at 4 p.m. it was at 303 views. Just one hour later, it had jumped to over 3,000!

Check out the clip below — are you excited for The Hobbit?

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