An announcement about the series being filmed in New Zealand by the American technology giant Amazon is expected soon, but industry insiders have already said the resort will play a big role in the production.
Several people within the Queenstown film and television industry told the Otago Daily Times they were unaware of the plans or had heard only rumours.
It is also understood people involved in the production had visited last month.
One person said it had been a well-known secret Amazon would be filming the series in New Zealand but what part Queenstown would play was still unknown.
Developers were already working on or potentially offering their land for development of a film studio, the person said.
It was suggested two developers, John Darby and Alastair Porter, were either considering developing their own studio or had pitched their land as a potential location for a studio.
Mr Porter said he was not able to comment on any potential talks he had had with Amazon and Mr Darby could not be contacted yesterday.
Economic Development Minister David Parker said Amazon was offered the Major Screen Production Grant - which provides up to a 25% tax refund for international productions - and it was made clear they were welcome in New Zealand.
An announcement was imminent but it would come from Amazon, not the Government, Mr Parker said.
Film Otago Southland executive manager Kevin Jennings said he could not comment.
Queenstown Chamber of Commerce chief executive Anna Mickell said she had heard a rumour about a large television production possibly using the town but knew nothing officially.
If the rumours were true, it would be very exciting for the region, Ms Mickell said.
''It's obviously very exciting, because one of our big goals here is to diversify away from tourism and make sure we've got a more well-rounded economy.''
''Also being able to continue to support our film industry is just awesome,'' she said.
Pure Glenorchy Lord of the Rings Tour operator Joel Lamason said rumours about the show had been circulating for the past six months and he had seen an increase in vehicle activity at the locations featured in his tour.
''We had actually seen a few suspicious things on our tours going around, more vehicles than usual, and there had been some pretty hot gossip going around town ... I dare say I would be putting a 100% confirmation on it.''
Lord of the Rings fans were still willing to pay to visit the locations, even though the first film was released nearly 18 years ago, Mr Lamason said.
''The amount of people that will watch this TV series will be a lot larger than the number of people who watched the originals and it will be another major drawcard.''
Ian Brodie, former Wanaka resident and writer of a The Lord of the Rings location guidebook which has sold more than 500,000 copies, said the Otago landscape had been indelibly stamped as Middle-earth and if the series was filmed in the region it would reinforce that status.
''I can't think of a better place to film this series. The varied landscapes, the professional film environment and infrastructure make this region a very appropriate choice.''
