Twenty-five years later, The Blair Witch Project remains one of the most startling independent horror success stories. Filmmakers Daniel Myrick and Eduardo Sánchez turned a roughly $65,000 faux-documentary inspired by History Channel conspiracy specials and Steven Spielberg’s Jaws into a $248.6 million payday. Found footage movies soon gained overnight popularity as low-risk, high-reward projects, but nothing came close to The Blair Witch Project until Oren Peli’s Paranormal Activity — the almost $200-million-grossing film that built Blumhouse. The Blair Witch Project was lightning in a bottle, never to be replicated, and audiences rewarded those involved — especially acquiring studio Artisan Entertainment (which was purchased by new owners Lionsgate) — with obscene profitability.
