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While Hollywood has been through one of the worst summers in years, all the way to the bank laughs the horror genre. Universal started the year with massive achievements, including Jordan Peele’s Get Out and M. Night Shyamalan’s Split, both grossing $250 million across all nations. In fact, David F. Sandberg’s Annabelle Creation could even reach $300m. While we’re all celebrating these grand successes none are as significant as Warner Bros. and New Line Cinema’s IT 2017 movie, which has broken September records by topping $100 million just during its opening week.
In fact, early approximations are announcing that IT 2017 movie has exploded to a whopping $117 million opening week, making it the best horror opening to existence.
That $117 million is only just here in the States, with early global reports just coming in hot adding $62m more to the total. Early Sunday morning estimates have the worldwide gross at $179 million. An amusing comparison would be to Sony’s Spider Man Homecoming, which had a quite similar start. That put an end to its domestic run at $325m and worldwide at $750m, which would be incredibly insane for a horror movie. More than $500 million worldwide is all but guaranteed. LITTLE UPDATE: As of Monday morning it has been reported that the domestic take is likely along the lines of $123 million!
I’m actually not a fan of box office reporting but, you and me all know, Hollywood is reactive. These numbers have a meaning, and IT‘s transition from troublesome (even almost being shut down) to impressiveness will affect the entire industry. You see, IT 2017 movie has saved audiences from continually being served poor-quality fast-food horror.
The studios have become used to take our genre for granted, with budgets dwindling down to around the range of $5 million. That’s quite literally what it costs to create as many indie movies you see at Sundance or Toronto nowadays.
Each movie has its own miracle but not every horror film just can be made with $5m and be good. On another note, in the early 2000s, studios were most surely overspending on horror genre, making it almost impossible to compensate their expenses. Like I said, Hollywood is reactionary and IT 2017 movie has rescued us from the dreadful terrors of under-budgeted horror movies; this grand opening is a sign to the executives that people will show up for high-quality horror productions. It just depends on them to hit the breaks a bit and find a delightful place between underspending and overspending.
Speaking of, fingers crossed, Warner Bros. Pictures and New Line Pictures don’t forget how they got to this place. When Cary Fukunaga was attached to the Stephen King adaptation, it was initially a Warners production.
From what I’ve heard, budget concerns originally caused the studio to hit the breaks, and that’s why it was shifted over to New Line. There, Fukunaga broke away from the project and Andy Muschietti was brought in to reshape the movie in order to fit into a more reasonable budget (reported at $35 million). Even with the lesser budget, they’ve spent quite a lot in comparison. You just can’t cheat quality and IT 2017 movie rightfully proves this on so many levels.
It’s been such a long run since we’ve seen a horror film with this kind of backing and now I’m dying for it all over again. It’s time for the studios to get out of the micro-horror mindset and return to the basics. They need to support the genre and get behind new projects without letting the budget uncontrollably get out of hand and therefore killing the very own monster that they created. There is a line where horror can live that brings both profits and quality. The closest we’ve been to floating up from the sewers is with New Line’s Conjuring series, which continues to be a box office blockbuster that’s also made within rational budgets.
Get ready, dear readers, it’s time for the major horror revival! It’s only just getting started…