When I was a kid if you wanted to watch Lord of the Rings it was half Bakshi and half Rankin/Bass.
Rankin/Bass didn't really animate movies themselves, they contracted with a number of studios to do the actual art. The Hobbit and Lord of the Rings were done under contract by Topcraft Animation. Topcraft later did Nausicaa of the Valley of the Winds based on the manga by Hayao Miyazaki. Shortly after they declared bankruptcy and Miyazaki put together a group of investors to buy their assets creating Studio Ghibli.
That song seriously slaps.