It was the same year 1994, when Wood achived the title role in North, that has been regarded in the history of the Hollywood film industry as a remarkable one, for the volume of bad reviews and bad box office that it received. However each bad review also contained a positive assessment of Wood's performance. Though in the meanwhile, in 1997 he acted in the Oliver Twist as the Aertful Dodger, however it failed to make any effectual impact. Even the films like Deep Impact and The Faculty, though proved trivial in respet to character development, nevertheless had been prominent reasons for great financial successes. It is said that these were the formative years that led to the rise of Wood from winsome child star to an impressive young actor. It was the film the Lord of the Rings:The Fellowship of the Rings (2001), the first induction of the Director Peter Jackson regarding the adaptation of the literary trilogy of J.R.R. Tolkein that established the ground of Wood in the Hollywood film industry. His role as Frodo Baggins alongside illustrious actors like Sir Ian McKellen, Cate Blanchett, Christopher Lee, San Bean and sevreal others gave him the widest publicity. His astounding performance is being caried through the other films too. In the recent times Wood has almost completed his stint with The Oxford Murders, a film adaptation of the same name by Guillermo Martinez, where he is in the role of a graduate student and investigating a series of mathematically-based murders in Oxford. He is all set to appear in The Passenger, a biopic on the singer Iggy Pop as a young man.
Besides Wood is also widely populated as one of the biggest collectors of music in Hollywood. It is this love for music that propelled him to start his own record label called Simian Records in 2005.