Good news: Lord of the Rings would make for great television.
Bad News: Amazon doesn't make great television.
So far, Amazon has only made one good show, and that's Other Space. They cancelled it. Man in the High Castle is their only popular show and it isn't even good. How can you possibly make a show about Nazi Germany taking over the world uninteresting? Observe and learn from the masters of multitasking poorly.
And why wouldn't it be more popular than Game of Thrones? Lord of the Rings in general as a book series is by default more popular than George R. Martian's garbage.