House of the Dragon season 4 will mark the end of the series, and it's likely to be the most brutal season yet. House of the Dragon season 3 raised the stakes in the Targaryen civil war, with some notable character deaths. Veterans of the show, like Criston Cole and Otto Hightower, met their ends, while exciting new characters like Ormund Hightower and Roderick Dustin had brief but epic arcs.
As the show comes to an end, the true cost of the war will be revealed. Both the Greens and the Blacks will suffer great losses in the final days of the war. No matter what side you're rooting for, it is likely you're going to see one of your favorite characters given a memorable death. Some characters will survive to see the devastating aftermath, but these key characters are not likely to reach the end of House of the Dragon season 4.
FULL SPOILERS from Fire & Blood beyond this point.
1. Aemond Targaryen
If there is one central villain in House of the Dragon, it would have to be Aemond Targaryen. The fearsome prince always carried a significant chip on his shoulder, and the war seemed to give him an excuse to take his anger out on the world. He has proven himself one of the deadliest characters in the series, who also happens to have the biggest dragon in Westeros.
House of the Dragon season 3 was an unusual one for Aemond, as it saw him hiding out in Harrenhal, forming a bond with Alys Rivers, and most shockingly, expressing remorse for trying to kill his brother. The final season will certainly see him throwing himself back on the battlefield again; however, his sinister ego is destined to lead him into a battle he will not survive.
2. Daemon Targaryen
While Aemond is the central warrior for the Greens, Daemon Targaryen is the most feared member of the Blacks. After struggling with his role as the queen's husband, Daemon has vowed to serve Rhaenyra loyally. However, he is still very much a wild card who likes to attack first and then sort out the facts.
Daemon has also found himself on a collision course with Aemond for much of the series. The show has strategically kept them apart for good reason, and the final season will surely see an epic showdown. However, just as Aemond's arrogance of youth will be his downfall, Daemon's victory will likely only come at the cost of his own life.
3. Rhaenyra Targaryen
House of the Dragon has impressively made an ensemble of complex characters, none of whom are easy to cheer for. However, it is hard not to want to see Rhaenyra Targaryen winning in the end. Rhaenyra has made plenty of mistakes in her pursuit of the Iron Throne, and her arc is likely only going to get darker.
Unfortunately, the way that the story is going, Rhaenyra's story can only end in tragedy. She is destined to live long enough to see the devastation the war has caused and to come to regret ever wanting the throne. Once she comes to that point, she will have the throne and her life taken away.
4. Aegon Targaryen
Aegon Targaryen once had the Iron Throne, only to be nearly killed and forced to abandon it. House of the Dragon season 3 saw Aegon's underdog story evolve into him once again becoming a major player in this war. It sets the stage for a fascinating final season for him.
His time in hiding seemed to be humbling for him, only for the former king to be reunited with his dragon. It's likely we'll see him abandon any growth as a human being and refocus his energies on regaining his power, only to be defeated again in a more definitive way.
5. Most of the dragons
The legend of the Targaryen civil war is that it was the beginning of the end for the Targaryen dynasty. Though they remained in power for years to come, the war saw them lose the majority of the dragons and thus lose most of their power in Westeros.
While House of the Dragon has shown a willingness to play around with the established lore, this is one plot development that cannot be avoided. The series is destined to have a tragic ending, showing how the greed over a single throne led to the destruction of the most powerful creatures alive.
House of the Dragon season 4 is scheduled to begin filming in early 2027, and premiere on HBO sometime in 2028. The first three seasons are available to stream on HBO Max.
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