Precise figures weren't revealed, but that's a lot of dosh.
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According to Damian Petti, the president of the IATSE 212 artists union, each episode of HBO's TV adaptation of The Last of Us will cost over $10 million (USD). The show is said to include a budget that "well exceeds the eight-figure per episode mark." This information was shared by Petti in an interview conducted by CTV News.

In speaking with CTV, Petti stops just short of giving a precise amount for the budget. He says that he "cannot confirm the official budget numbers, but will say it is likely the largest project shooting in Canada." Thanks to this huge budget, Petti says that "there are hundreds of related businesses benefitting from the plethora of work."

The Last of Us reportedly includes five art directors and "employs an army of hundreds of technicians." The show has already had six months of prep work and will be shooting for about 12 additional months. Showrunner Craig Mazin previously said that the series will have a first season that runs for 10 episodes. Quick maths tell us that the first season alone will have at least a $100 million budget.

To compare, something like HBO's own Game of Thrones cost about $6 million per episode in its first season. By its final season, it was around $15 million per episode. The Mandalorian budget per episode is around the $15 million mark.