$62.5 million. That’s how much Oren Peli’s little $15,000 movie (essentially shot on home video equipment) has made so far, including the $22 million the film just pulled in over the weekend, the film’s first time in 1,945 theaters after Paramount Pictures decided there was money to be made and started expanding the faux documentary into more theaters. The film is on track to easily beat the $100 million dollar mark, and possibly surpass the $140.6 million million that another low-budget horror movie raked in back in 1999. You may have heard of it, something about “Witches”.
Just like that other movie, Paramount Pictures is now seriously considering a sequel to Peli’s “Paranormal Activity”. Not only because the movie is shaping up to be their most profitable return on investment in decades (they paid a measly $300,000 to acquire it), but a sequel would give Paramount overseas rights to the movie as well, whereas they only paid for the domestic rights with the original. Of course, coming up with a decent idea to make a sequel is another matter.
Paramount head honcho Brad Grey tells the LATimes:
“We have the rights on a worldwide basis to do ‘Paranormal 2’ and we’re looking to see if that makes some sense.”
Translation: “Are you shitting me? Of course we’re doing a sequel. What do you think I am, an idiot?”