According to an article by LA Times, the success of “Paranormal Activity” was such a suprise hit for Paramount, that the studio is now contemplating a sequel. With a budget of $15,000, “Paramount Activity” has grossed an astonishing $62.5 million nationwide and represented the largest return on investment for Paramount Pictures in the studio’s entire history.
“We have the rights on a worldwide basis to do Paranormal 2 and we’re looking to see if that makes some sense,” says Paramount Chairman Brad Grey in an interview.
In an industry obsessed with building franchises, a Paranormal sequel is a no-brainer. But can lightning really strike twice?
People often compare “Paranormal Activity” to the 1999 surprised indie success of “The Blair Witch Project” which spun a 2000 sequel — “The Book of Shadows” — after earning $140.6 million. “Book of Shadows,” however was poorly received and grossed just $26.4 million domestically, so the reality of producing a successful follow-up to a low-cost movie that was a pop cultural phenomenon can be difficult.
But whatever the case may be. If Paramount did produce a Paranormal sequel, it would be a win-win for the studio because no matter how bad it ends up being, people would still pay good money to be scared. Novelty or not.