It looks like Insidious 5 is happening. This should come as a bit of a surprise in one sense and, in another sense, it's pretty expected. From the studio's perspective, this is a franchise that just keeps making money and, based on the box office brought in by this year's Insidious: The Last Key, people are interested in these movies now more than ever. From a story perspective, it's a little hard to imagine where Insidious could go from here, which is why this may be a bit surprising. But money talks and there's clearly a lot of money to be made here.
Before digging into why this is a financial no-brainer for Universal and Blumhouse, let's dig into what we know about Insidious 5 which, at this stage, isn't all that much, unfortunately. What we do know is that it's being reported that a fifth entry in the franchise created by James Wan is happening in some form or another. It's also being reported that, unlike the last two entries in the franchise, Insidious: Chapter 3 and Insidious: The Last Key, this new movie won't be a prequel. That raises some other questions, but it looks like Insidious 5 will be taking the story in a different direction.
Financially, Insidious: The Last Key has become the highest-grossing movie in the franchise to date, currently boasting a $164.4 million total at the worldwide box office. Working from a budget of just $10 million, that makes the fourth Insidious movie quite profitable. This, despite the fact that Insidious: The Last Key boasts a very poor 33 percent approval rating from critics on Rotten Tomatoes, coupled with a far-from-ideal 52 percent audience rating. That said, horror movies overcoming poor response and going on to achieve financial success is nothing new.
Insidious: Chapter 2, which was released in 2013, is the last time we saw a movie in the franchise that wasn't a prequel. Lin Shaye has been a staple of the franchise since the beginning as Elise Rainier, but since this isn't going to be a prequel, it's tough to say if she'll be back for Insidious 5. It's possible that the studio could be looking to take things in an entirely new direction. With something like Insidious, it would be pretty easy to use the same general concept and focus on a new cast of characters. That could also help breath some new life into the series.
To date, the Insidious movies have made a total of $536.3 million worldwide. Considering they were all made for very small budgets, they've been very reliable moneymakers. James Wan directed the first two installments, but he's only been involved as a producer since. Insidious: The Last Key was directed by Leigh Whannell, but it's unclear at this time if he'll be back for another go or if a new director will be brought in. There's also no word on a possible release date just yet. This news was first reported by Bloody Disgusting.