The ultra low budget fright-fest Paranormal Activity has collected an astounding $62 million after five weeks of limited release in the U.S. The film, which only cost a measly $15,000 to make, is now on track to become the most profitable film of all time.
The Oren Peli directed feature about a couple experiencing … paranormal activity … has been building buzz ever since it debuted in a few select cities across America last month. With folks all a’Twitter about the spooky film, it was no surprise that Paramount decided to distribute it widely over the pre-Halloween weekend.
The decision turned out to be a wise one; P.A. trounced the Saw franchise’s sixth instalment and claimed a tremendous $22 million, leaving Jigsaw with a disappointing $14.8 million.
Industry insiders are now predicting that P.A. will hit the golden $100 million mark in the coming weeks; an unthinkable feat considering that this tiny film was originally going to be nothing more than an extra on the DVD of a big-budget remake.
The big question now is: Can Paranormal Activity become the most profitable movie of all time?
The Blair Witch Project was once considered to be the most profitable movie of all time. However, that film’s original $20,000 budget ballooned to around $500,000 – $750,000 after Artisan Entertainment (the studio that purchased the film following its Sundance debut) forced the filmmakers to shoot some (relatively unused) new scenes. Blair Witch went on to gross $248 million worldwide, marking a profit ratio of approximately 496:1.
Paranormal Activity meanwhile, has a profit ratio of 4133: 1.
Of course, it is unknown if Paramount Pictures pumped any extra cash into the film (not including the film’s $10 million marketing budget of course). We’ll wait until Paramount issue a press release before we unfurl the congratulatory banner.
Unsurprisingly, Paramount are now considering a sequel to Paranormal Activity.
Can anyone say Book of Shadows?
Paranormal Activity opens in Australia December 3rd, but there will be late-night screenings this Halloween across the country. Check your listings.
Discuss: Favourite spooky film?