A new report from Variety shares a piece of information from an anonymous “production insider”: the 10 episode first season of House of the Dragon managed an average per episode budget somewhat under $20 million. This is cited as a great achievement given rising production costs and the greater number of dragons that will need to be CGed in the series. Variety reports:
[T]he production insider says HBO is now so adept at these world-building series through years of not just GoT, but also producing Westworld”and His Dark Materials, that the team can make a high-quality series as efficiently and effectively as possible.
By way of comparison, the final season of Game of Thrones cost somewhere in the vicinity of $15 million an episode.