Blumhouse has been one of the most successful horror movie companies over the past few years. The studio has shown a knack for creating spine-tingling movies without breaking the bank on a budget. The horror genre doesn’t shatter box office records because it is more of a niche. This has not stopped the studio from being profitable, thanks to original ideas and quality directing. 2024 has been a banner year for the studio. Their latest release, Speak No Evil, pushed the company over $150 million gross for the year.
Blumhouse Crosses $150 Million Mark
The James McAvoy-led remake has now grossed $43 million worldwide. $22 million of that was domestic, while $21 million was international. With a budget of just $15 million, it is safe to say this movie is a huge success for the studio. This is also the most the studio has made under CEO Jason Blum. While not every movie is a hit, the studio still finds a way to rake in the dollars at the box office. Speak No Evil is the fourth movie Blumhouse released in 2024.
Blumhouse’s Night Swim was released in January and grossed $54 million. The first month of the year is often challenging for movies, but the Wyatt Russell-led film was still able to draw moviegoers to the theater. Imaginary didn’t receive critical acclaim but still pulled down $43 million at the box office. The dud of the year was Afraid, which only grossed $11.5 million. Even with that disappointing box office result, Blumhouse had a record year. Their release strategy is sound and has led to their success.
Clear Strategy Leads To Success
Many studios rely on one or two blockbuster movies to bring in huge amounts. This is a high-risk, high-reward strategy. If the movie is a smash hit, record profits can happen. However, if it flops, it can set a studio back years. Blumhouse does it a little differently. They release four or five smaller movies a year. All of these movies have smaller budgets, making flops less of a disaster.
Take the movie Afraid from this year. It only grossed $11.5 million, but against a $12 million budget, it isn’t a colossal failure for the company. Furthermore, the smaller budgets make their best movies even more profitable. Speak No Evil only had a $15 million budget and still had recognizable names and high-quality writing.
In a world of overinflated blockbuster movies that rely on massive casts, CGI effects, and huge marketing campaigns, it is refreshing to see Blumhouse take another approach. Movie studios have been trying to drive people to the theaters for the past two years. Horror movies have diehard fans, and the studio has shown that they care about the genre. This leads to loyalty among moviegoers. Even if a movie doesn’t receive critical acclaim, there is a floor because of the quality they are putting out. 2024 was a banner year, and it will be interesting to see if they can build on it for 2025.
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