Peter Jackson would have cast John Lennon as Gollum in 'Lord of the Rings'

Appearing on 'The Late Show', he told host Stephen Colbert: "Obviously Paul is Frodo, isn’t he? Sam is obviously Ringo. So then you’ve got, well, John is Gollum obviously.

“They cast themselves, and they did it right. Gandalf is George the mystic, magician, that’s perfect. I mean you’d have to age him up a bit.

"And I guess if you had have Gollum, and you had the four Beatles, John Lennon is the obvious one, absolutely, slam dunk.”

In the end, the 'Hey Jude' hitmakers didn't get the rights to the movie, and Jackson would later go on to direct the big screen trilogy.

Meanwhile, the director explained who Apple film producer Denis O'Dell originally had the idea, but it didn't get off the ground.

He told the BBC: "Ultimately, they couldn’t get the rights from Tolkien, because he didn’t like the idea of a pop group doing his story. So it got nixed by him.

“They tried to do it. There’s no doubt about it. For a moment in time they were seriously contemplating doing that at the beginning of 1968.”

Jackson admitted he was in "two minds" about the quartet's version never getting made.

He explained: "Paul said, ‘Well I’m glad we didn’t do it, because you got to do yours and I liked your film.’

"But I said to him, ‘Well, it’s a shame you didn’t do it, because it would have been a musical.’ What would The Beatles have done with a Lord of The Rings soundtrack album?

“That would have been 14 or 15 Beatles songs that would have been pretty incredible to listen to. So I’ve got two minds about it.

"I would have loved to hear that album, but I’m also glad I got the chance to do the films. But those songs would have been fascinating.”