I knew all of our attention would turn to IT once it broke box office records, which is why I rushed up an article pointing out that David F. Sandberg‘s Annabelle: Creation is this year’s most profitable horror film, not Universal Pictures’ Get Out. This isn’t to take anything away from Jordan Peele’s masterpiece but should illustrate just how potent the horror genre is right now. It’s absolutely insane, although I wouldn’t say surprising as horror always performs well during tumultuous times. Things are awful right now and we all want an escape, which is where horror thrives. Studios and horror fans are reaping the benefits.
Digressing, Get Out sits at $250 million worldwide on a $4.5M budget. On a $15M budget, Annabelle: Creation is about to topple $300 million worldwide, with it set to surpass $100M domestically and $200M internationally. Incredible.
Between IT and Annabelle: Creations, Warner Bros./New Line Cinema looks to top $1 BILLION from the horror genre alone by the end of 2017. Holy. Shit.
There are lessons here that I’ve gone over in a previous article. In short, studios needn’t overreact and start pouring money carelessly into horror films, but they do need to start taking our genre seriously and put some weight behind it. Even with mother! underperforming, studios need to take these “safe” risks because one of them could become the next franchise or universe they’re so desperately seeking.