We'll have our full box office report tomorrow morning, but we should let you know now that, as expected (and reported back on Saturday morning), Paranormal Activity has claimed its first weekend win, slicing and dicing its way through Saw VI (only $14 million) on its way to a $22 million take. Naturally, Paramount wasted no time in announcing that they may indeed pursue a Paranormal Activity sequel if it seems like the right move to make. Speaking to the LA Times, Paramount Chairman Brad Grey said, "We have the rights on a worldwide basis to do Paranormal 2, and we're looking to see if that makes some sense."
Well, considering that this little film with a budget of $11,000 could give the studio its greatest return ever, something tells me a sequel makes a whole lotta sense to the folks crunching numbers. That said, I'm not the only one who remembers the gigantic piece of moose crap that was Book of Shadows: Blair Witch 2, and so if Paramount is going to try to turn Paranormal Activity into some sort of franchise, they'll have to do so very carefully.
Personally, I'd rather see them invest in writer-director Oren Peli and his other fun, low-budget ideas than to see them throw a few million and some over-the-top special effects at a sequel that will never live up to the original. Let's face it, like Blair Witch before it, a lot of the fun with Paranormal Activity came in discovering it through word of mouth instead of through the normal Hollywood marketing system. It was (and still is) an underdog, and folks love the underdog. The same won't be said for the sequel.
What do you think they should do here?