When does The Lord of the Rings: The Rings of Power return?

Amazon acquired the television rights for The Lord of the Rings from the Tolkien Estate in November 2017. The series is set thousands of years before the novel and depicts the major events of Middle-earth's Second Age. The first season was released through October, and was the most-watched of any Prime Video original series. It received generally positive reviews from critics, but there were criticisms for the writing and pacing.
The Hobbit and The Lord of the Rings is based on the author's history of Middle-earth. The series begins during a time of relative peace and covers the major events of the Second Age. These events take place over thousands of years in Tolkien's works but are condensed.