When watched together, Peter Jackson's Hobbit trilogy lasts a DVT-inducing 7 hours and 54 minutes. That's quite a long trilogy, considering it takes only four to six hours to read the lone book. So an unknown editor, going by the name Tolkien Editor, took it upon him/herself to recut the trilogy into a more manageable four hours—as well as make some important alterations.
According to Tolkien Editor, the most important part of their edit was to keep Bilbo front and center in the story. They explained:
I felt that the story was spoiled by an interminable running time, unengaging plot tangents and constant narrative filibustering. What especially saddened me was how Bilbo (the supposed protagonist of the story) was rendered absent for large portions of the final two films.
With that goal in mind, they chopped the Tauriel/Kili/Legolas love triangle; the appearance of Radagast, Saruman and Galadriel; and the prelude with Old Bilbo. In other words, this edit is far more faithful to the books.
Other scenes were trimmed as well. As an example, Tolkien Editor uploaded their version of the famed barrel scene from The Hobbit: The Desolation of Smaug.
Now compare that film version, in which Legolas practically dances on the dwarves' heads, and you'll get a taste of what Tolkien Editor wanted to see in The Hobbit trilogy.
Because this version will likely be taken down as soon as possible, check the site to see it while you can. But Tolkien Editor, who is anticipating this, also writes, "You can also torrent the movie ..." We won't post the torrent links here, but your good friend the Internet should pretty easily turn them up, if you're interested in finding them.