Universal Signs Three-Year First-Look Deal with Producer Jason Blum
Hoping to capitalize on the low-budget/high-gross success Jason Blum has had with such genre fare as Paranormal Activity and Insidious, Universal Pictures has signed the prolific producer to a three-year first-look deal. This amounts to an aggressive move into the low-budget arena for Universal, which is known for spending generously on its slates.
Per Deadline Blum and his Blumhouse Productions have scored big in the horror realm with the original Paranormal Activity, which cost about $15,000 and grossed $193 million; its first sequel cost $3 million and grossed $177 million worldwide. Insidious cost $1.5 million and grossed $81 million worldwide and is still rolling out.
Upcoming he has the latest installment of the fright franchise Amityville Horror: The Lost Tapes for Dimension Films, the Barry Levinson-directed eco-horror film The Bay, "The River" TV series for ABC, the Oren Peli-directed Area 51 for Paramount Pictures, as well as The Lords of Salem with Rob Zombie directing.
“We are certain that Jason will be a significant asset to the Universal family,” said Universal Chairman Adam Fogelson and Co-Chairman Donna Langley in a joint statement. “He brings an ability to attract top talent and a keen eye for producing high-quality, modestly budgeted films that are both cutting-edge and commercial. We know that this deal with Blumhouse will equal much shared success.”
Said Blum: “I’m thrilled by the opportunity to collaborate with Adam, Donna, and the entire Universal team. I could not ask for a better home for Blumhouse Productions, and I look forward to the slate of films we will create together over the coming years.”
Good news indeed for horror fans. Look for announcements on upcoming Blumhouse/Universal projects soon!
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