The worldwide box office for “The Black Phone,” a Blumhouse and Universal production, has reached $150 million.
The movie’s $16 million production budget.
The third-highest grossing horror movie since 2020 is “The Black Phone,” which has reached this box office milestone.
The movie also demonstrates the value of low-budget movies as box office draws.
The fact that “The Black Phone” has earned more than $150 million worldwide has allayed whatever worries Jason Blum had about the state of the box office.
Blum shared the fear of many others who believed that in the aftermath of mass theatre closures, low-budget films would no longer have a place at the cinema. The movie, which was a collaboration between Blum’s production company Blumhouse and Universal, taught Blum and the broader industry that there is still a market for films with minimal budgets. “The Black Phone” has now exceeded the $150 million worldwide ticket sales milestone, surpassing Paramount’s “A Quiet Place: Part 2” ($299 million) and Warner Bros.’ “Conjuring: The Devil Made Me Do It” ($206 million).
“The Black Phone” has already surpassed the $150 million global ticket sales milestone, surpassing Warner Bros.’ “Conjuring: The Devil Made Me Do It” ($206 million) and Paramount’s “A Quiet Place: Part 2,” which earned $299 million.
The movie’s $16 million budget and original IP are two factors that contributed to its prominence at the box office.
It’s kind of anyone’s guess what people will be willing to go back to the movie theatre to watch and what they will not be willing to go back and see in this type of post-Covid theatrical scenario, Blum added. Blum said, “You know, before the opening, I was anxious because that’s why I was nervous.”
Many others believed that audiences would only seek out blockbuster movies or movies with a strong franchise.
Abhijay Prakash, president of Blumhouse, said, “I believe it’s amazing. I think it’s hugely important for us and the industry. What is happening is undoubtedly a part of the theatrical recovery. I understand that big-budget films like “Top Gun” and “Jurassic” get all the attention. But given what it is, this film has done something absolutely remarkable.
Blum also expressed his satisfaction with “The Black Phone’s” performance.
It’s one of the most financially successful movies the studio has ever had, he claimed, in the 20 years he has been doing this.
Low- and mid-budget movies don’t typically garner attention for their box office takings, but they nonetheless make a substantial contribution to the global and local business as a whole.
According to figures from Comscore, the box office for 2022 has brought in about $5.05 billion as of August 11, which is a 31% decrease from 2019. In comparison to the same period in 2019, it also had around 31% less releases, with just 52 wide releases (movies distributed in more than 1,000 theatres), as opposed to 75 in 2019.
It’s become obvious that fewer low- and mid-budget movies are being released in theatres, which has led to a decline in ticket sales overall. These sorts of movies, especially those in the horror category, might draw in viewers who have been hesitant to go back.
If you speak to any of our exhibitor friends, they will tell you how much they adore the horror genre since it consistently attracts a younger demographic.
Blumhouse, which produces high-caliber feature films on tighter budgets, has raised the bar for horror filmmaking in the twenty-first century. The company is arguably best known for producing blockbuster movies with little budgets, including “Get Out” and “Paranormal Activity,” which won the Academy Award for best picture.
For instance, “Get Out,” which cost roughly $4.5 million, without marketing expenses, made more than $250 million worldwide during its theatrical release in 2017.
Blumhouse still has “Halloween Ends,” which will be released in cinemas in October, and “M3GAN,” which will follow in January. The company is also working on a “Spawn” movie and a “Five Nights at Freddy’s” video game adaptation.
According to Blum, there is a robust business that includes top-notch original storytelling in movie theatres along with comic book blockbusters and tentpoles. And that is in fact really, extremely important.