'IT' has broken all sorts of records this past weekend but the biggest surprise of them all is that it is officially the 5th highest grossing R-Rated Horror of all time, after just 3 days!
I imagine it will take top spot off The Exorcist which currently stands at $232m domestically, within the next month or two. IT stands at $123m domestically.
When the movie was first announced, I imagined it to make in the region of $20-$40m domestically and maybe $70m total worldwide. After the marketing campaign, I rethought this estimate to maybe $80-100m domestically and a total of $200m worldwide. As it stands, all estimates have been blown out the water and that includes professional estimators. I now estimate maybe $250m domestic and $200m internationally. That would mean $450m total worldwide, going off my opinionated estimates.
What does this mean for horror? Well we already know that Warner Bros is leading the way with huge hits in the Conjuring universe. They already own the rights to quite a few other Stephen King adaptations so I can see some of his other horrors hitting the big screen over the next few years. Aside from Warner Bros, we have smaller companies such as Blumhouse who have had two massive hits within the last year in Split and Get Out. It goes to show that not only is horror not going away, it is getting bigger.
I just hope that others will take note. Not only has IT been a huge revelation in the wallets of studios, but it is also a great horror movie. Not many jump scares, just pure old fashioned terror!
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