Horror Movies Set to Dominate Theaters Until Halloween

Prepare yourself for a perfect autumn combination: pumpkin spice latte and a thrilling movie. Spooky movie season has arrived!

Starting this Friday, cinemas will be treating audiences to a cascade of jump scares, creepy monsters, and gory delights. This is excellent news for the box office, as Hollywood is currently grappling with restrictions on promotions due to dual labor strikes. Horror films offer the ideal remedy, as fans of the genre are more interested in the fright factor than the star power behind the films.

“Horror movies have been an integral part of cinema since its inception and have never lost their appeal, especially when enjoyed in the communal atmosphere of a darkened movie theater,” said Paul Dergarabedian, senior media analyst at Comscore.

These films often have smaller production budgets, making them highly profitable for studios. Unlike major franchises, horror films don’t require extensive mass marketing to reach their target audience. “Horror films possess an innate quality that captures the attention of their audience without the need for a traditional marketing footprint,” explained Shawn Robbins, chief analyst at BoxOffice.com.

In 2023 alone, the horror movie genre has generated over $600 million in domestic ticket sales, accounting for approximately 10% of the total box office revenue in the U.S. and Canada, according to Comscore data.

Some of the top horror films this year include:

• Paramount’s “Scream,” which grossed $108 million domestically and $170 million worldwide on a $35 million budget
• Universal’s “M3gan,” which earned $95 million in the U.S. and Canada and $180 million globally with a budget of $12 million
• Sony’s “Insidious: The Red Door,” which raked in $82 million domestically and $186 million globally on a budget of $16 million

“Today’s audiences love the thrills and escapism that horror films provide, and their consistent box office success ensures that studios and filmmakers will continue to produce a plethora of these films for theaters in the future,” added Dergarabedian.

Moving forward, audiences can look forward to a thrilling lineup of horror films in the coming weeks.

While these upcoming horror films may not achieve record-breaking opening weekend box office numbers, they provide a crucial source of supplementary revenue for theaters and contribute to the overall annual box office earnings. This is particularly significant for theater chains like AMC and Cinemark, as well as Hollywood studios, considering that major releases like “Dune: Part II” have been postponed to 2024.

BoxOffice.com forecasts suggest that “The Nun II” is expected to earn between $30 million and $45 million during its opening weekend, with a potential domestic total of up to $95 million.

“A Haunting in Venice,” the third Agatha Christie adaptation starring Kenneth Branagh, is projected to debut with $11 million to $16 million and ultimately earn between $37 million and $57 million in the U.S. and Canada.

“Saw X,” the latest installment in the gruesome horror franchise, is anticipated to gross $10 million to $15 million during its opening weekend and achieve a final domestic total ranging from $22 million to $35 million.

Forecasts for “The Exorcist: Believer,” the first installment of a new trilogy, and the video game adaptation “Five Nights at Freddy’s” are currently unavailable. Notably, “Five Nights at Freddy’s” will follow the same distribution model as the last two Halloween films, simultaneously releasing on Peacock and in theaters.

“Ultimately, the shared experience of getting scared together with an audience remains an essential component of the theatrical experience,” remarked Robbins.

Disclosure: Comcast, the parent company of NBCUniversal and CNBC, has an interest in the film industry.