The Modern Horror Movie
(1) The American Film Industry, like any business market, has a history of adapting itself to meet the demands of its customers. When viewers respond to a film trend, movies studios do their best to capitalize on that trend. This can sometimes lead to disastrous losses, but it has also helped to shape American films throughout the history of the industry. Summer blockbusters, for example, have become an annual tradition. Up until the last few years, studios almost exclusively released their big-budget films during the summer (ticket sales have recently proven that these big budget films can flourish during other seasons as well).
(2) Summer wasn’t always the time for big budget movies. In fact, summer used to be the slow season for movie studios. People were out at the beach all day and didn’t want to spend their evenings inside of a movie theater. Many critics trace the modern summer blockbuster back to Jaws in 1975, when director Steven Spielberg and Universal deliberately delayed the opening of their film to coincide with summer. Since Jaws is a film about a shark terrorizing a sleepy beach town, Spielberg and Universal figured it would have the most impact during the season when people frequented the beach. They were right. After Jaws, more movies began dipping their toes into the summer market. Spielberg’s friend, George Lucas, released each of the films in his original Star Wars trilogy during the summer. By the 90’s big-budget summer blockbusters were an annual tradition.
(3) In the last 20 years, however, we have seen a trend in films that is almost the antithesis of the big-budget summer blockbusters. Studios have proven through the last 40 years that big budget movies can pay big dividends. In the last 20 years, though, some movie studios are cashing in on the fact that small budget movies can have even better returns. A contemporary big-budget blockbuster can cost around $250 million to make, and another $250 million to properly market. If that film makes $1 billion, then the movie studio has made $500 million, or 100% profit. That is an amazing return on the studio’s investment. However, if that same studio made a smaller film for $5 million, and spent another $5 million on marketing, they could reach the same percentage of return on their investment if the movie makes $10 million. The justification behind big budget movies is that betting big potentially gives the studio the biggest payoff. The downfall, however, is that the studios are shelling out a lot of money up front; if the movie doesn’t do great, it’s a failure.
(4) If you do some research on the highest grossing movies of all time, the list is exclusively big-budget movies. The top five movies on the list, Avatar, Titanic, Star Wars: The Force Awakens, Avengers: Infinity War, and Jurassic World cost over $1 billion to be made (not counting the money spent on marketing). However, if you do some research on the most profitable movies of all time, none of the films on the list cost even $1 million to make.
(5) The studios that have embraced this low-budget, high return trend the most are studios who produce horror movies. Since the release of The Blair Witch Project in 1999, a film that cost $600,000 to make, and grossed over $200 million, studios have realized that horror films can make them a lot of money with very little risk. Some criticize this trend because studios can continue to roll out sequels to movies like Paranormal Activity (the most profitable movie of all time by most reports) and The Purge even after they are no longer good. They cost very little to make and their brand recognition means they will likely make a decent run at the box office. However, the low financial risk of these films also gives studios the opportunity to give new filmmakers more freedom. A studio producing a big budget film would never hand over the reins to a newcomer without overseeing every step of the production carefully. Because of the low risk, Jordan Peele, a first-time director known for a comedy sketch show, had the freedom to do what he wants with his first movie. The result of this first-time, unproven director getting directorial freedom is Get Out, one of the most critically-acclaimed movies of 2017. This trend will invariably lead to more lazy horror sequels, but it could also lead to the de-stigmatization of the horror genre. Jordan Peele received an Oscar for Original Screenplay for Get Out; is a Best Picture-winning horror film far off?