Does no one want to watch people get butchered any more? Horror, long recognised as one of Hollywood’s most reliable cash cows, is in a panic: few scary movies are breaking through financially in 2025, many more are cratering completely, and questions are being asked about the future of a genre that once seemed as durable as Jason Voorhees. Forget the death of the archetypal movie star: if sassy psycho-cyborg M3GAN can’t open a movie, who can?
Back in 2022, the first M3GAN – about an artificially intelligent doll with a bloodthirst – grossed $182m (£135m), including $78m of pure profit for its backers at Universal Pictures and the micro-budget horror studio Blumhouse, off a production budget of just $12m. Thanks to smart marketing, which turned its leading lady’s incongruous dancefloor skills into a spooky meme, M3GAN ended up exemplifying the dream outcome of the modern studio horror film: low-cost, big-brain thrills with such inescapable dazzle that audiences couldn’t not seek it out. Why, then, did last month’s M3GAN 2.0 go so badly? In four weeks, the more action-oriented sequel has grossed a measly $38m worldwide, a result so mortifying that the head of Blumhouse put his hands up within days of its release and admitted to having totally missed the mark.
