When early projections for the opening weekend of A24’s “Backrooms” came in around $20-30 million a few weeks back, many expected the actual result would be much higher.
Even they, however, are probably surprised by just how high 20-year-old Kane Parsons’ liminal horror film has gone, with the title pulling in $81.4 million domestically and $36 million overseas for a worldwide debut of $118 million.
The film has the biggest opening A24 has seen in its 14-year history and was hugely dominated by Gen Z and Gen Alpha, with 88% of attendees aged under 35, 66% under 25 and 44% under 21.
At the same time, “Obsession” keeps stunning the industry. In second place, the title snagged $26.4 million domestically in its third weekend, a 10% increase on its second weekend haul. This marks the first time a film, outside a holiday window, has seen two weekends of increases from its opening since “E.T.: The Extra-Terrestrial” back in 1982.
Globally, the Curry Barker-directed film currently stands at $148 million and has become Focus Features’ biggest domestic-grossing title to date, its $104.7 million domestic total surpassing 2019’s “Downton Abbey” with $97 million.
For a film that cost just $750,000 to make, “Obsession” is already one of the most profitable films of all time, though it may not quite reach “The Blair Witch Project” or “Paranormal Activity” levels (those films cost $200,000 and $450,000 respectively and made $248 million and $199 million respectively).
The success has also impacted digital release plans for the title. Originally slated to hit PVOD this coming week, the title has been removed from NBCUniversal’s digital release calendar and is now expected to receive a much longer exclusive theatrical window.
The success of the two films is being seen as a very good thing for the industry – two filmmakers who essentially found a fanbase on YouTube first have now delivered original films (albeit one based on their own prior work). Both films were made and marketed very cost-effectively, and both have drawn in big audiences, especially younger audiences.
Contrast that with Lucasfilm’s far more traditional “Star Wars” film “The Mandalorian and Grogu” which had a major fall of 69% to $25 million in its second weekend domestically, and just $53 million worldwide in its sophomore run. That film, with a $165 million budget and $100 million marketing spend, is at $246.6 million worldwide so far.
The fact that two low-budget horror films by YouTubers are beating the hell out of a “Star Wars” film is being seen as a hopeful turning point for the industry to recognise the system still works and to be open to fresher IP and experimenting again. Whether the industry will follow through, we’ll see.
