The buzz surround the Paramount horror flick, “Paranormal Activity,” has helped the film earn $61.5 million since it was released in limited theaters over a month ago.
The feedback from fans across the net pushed the film to #1 last weekend, beating out new releases, “Saw VI” and “Astro Boy,” and earning $22 million in the three day span.
While it isn’t the biggest film of the year — “Transformers: Revenge of the Fallen” earned over $400 million domestically — it has gone on to become the most profitable film in history, according to TheWrap.com.
Being that it cost just $15,000 to make, “Paranormal” has delivered a staggering 434,000 percent return on investment. And, that number should grow substancial since it was released across the board just last week, moving from 950 theaters to almost 2,000 last weekend.
The only film to come close to touching those numbers was, ironically the film its been compared to, 1999’s “The Blair Witch Project.” The “Blair” film had a production budget of $60,000, and posted a 414,000 percent ROI.
“[T]his movie is probably more important than one that does $300 million or $400 million,” Don Harris, executive VP of distribution for Paramount, told TheWrap.
“No one expected it to do this well this quickly. Our heads are spinning,” Paramount chairman Brad Grey told the Los Angeles Times.
The studio owns the rights to release “Paranormal 2”, but are still deciding if a sequel would make sense.