1. Smaug
The core protagonist of The Hobbit, Smaug the terrible has yet to be revealed to audiences; with only brief glimpses being offered throughout An Unexpected Journey. Much like Sauron in Lord of the Rings, Smaug is seldom actually witnessed throughout the Hobbit; serving rather as a dreadful final obstacle. The driving force over the next two films therefore, is the necessary evolution of Bilbo Baggins. Currently a timid, fish out of water with glimpses of bravery he must find a way not only to gain access to Erebor (fabled home of the dwarves) but actually come face to face with the almighty destroyer, Smaug himself. Without wanting to give too much away (although clearly everyone should read the book) this encounter, if done correctly, should be a tense and thrilling climax to the trilogy.
