The New Zealand Symphony Orchestra stands to make hundreds of thousands of dollars if it records the sound score to the troubled movie The Hobbit.
However, that could depend on the film being made in New Zealand and on the orchestra winning the contract to record the score.
NZSO representatives appeared before Parliament's government administration select committee on Wednesday for its annual financial review.
NZSO chairman Donald Best told the committee it could make $300,000 or $400,000 from recording the sound score for the movie.
However, MPs were told that would depend on the orchestra getting the work and the potential income was not included in its budget.
NZSO chief executive Peter Walls said Sir Peter Jackson was not the only film-maker the orchestra worked with, and there was another major film being released soon for which it had done the music score.
Mr Best says there is potential for the orchestra to record music to other movies, including those made overseas, but it needs a purpose-built recording studio.
He says the orchestra is negotiating with a range of groups about building a recording studio in Wellington and he expects it should have firm plans ready next year.