and then you'll have something. Otherwise, it would just be too long and
convoluted.
You could have the first movie tell the story from creation to the departure of
the Noldor. The second movie could then follow the misadventures of Feanor in
Beleriand, and end with the story of Beren and Luthien. The third installment
could then tell the rest of the story, that is the demise of Morgoth. The
tricky part would be somehow getting the story of Numenor in there. EE material
maybe?
Dunno.
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All you have to decide is what to do with the empty space where your footer is supposed to go.