Well if you needed any further proof that the Paranormal Activity clones are going to start getting greenlit in droves, this week the low budget horror flick apparently surpassed The Blair Witch Project to become the most profitable movie of all time. It’s not too surprising, especially considering that the movie supposedly cost way less to make than The Blair Witch Project in the first place (filmmaking tools are just getting more and more inexpensive). Still, it can be hard to fairly judge these things… a movie that cost $15,000 to shoot initially still has to pour tons of money into marketing and distribution before it hits the big screen.
According to The Wrap, Paranormal Activity has earned approximately $65 million thus far, which works out to a 433,900% return on investment! And it’s only going to make more money since it expands to more theatres again this weekend. That’s pretty crazy. Don Harris, executive VP of distribution for Paramount is quoted as saying that, “For Viacom, this movie is probably more important than one that does $300 million or $400 million.” So hopefully all the studio execs do take notice and consider giving more smaller productions a shot at getting a wide release. What do you think, is the success of Paranormal Activity a good thing for Hollywood? What other effects do you think it will have?