Found-footage and/or low-budget original horror fare are Blumhouse Productions’ bread and butter; not only have their releases like Paranormal Activity, Insidious and The Purge reach high profit margins against minimal investments, they’ve also birthed new franchises that – despite the mixed feelings towards them – are a hit at the box office.

Blumhouse founder/CEO Jason Blum is overseeing two such horror sequels – Paranormal Activity 5 and The Purge: Anarchy – for a theatrical bow later this year, while the Blumhouse name is attached to a pair of original spooky offerings arriving in 2014, Creep and Oculus. The latter has thus far gotten a fair bit of attention, thanks to a couple of intriguing trailers that feature ex-Doctor Who star Karen Gillan sporting an American accent while battling an evil mirror. (Maybe there’s a Weeping Angel inside?)

Insidious: Chapter 3 (a.k.a. Insidious 3) is scheduled to open in theaters by Spring 2015, but STYD learned straight from Blum – who’s currently attending the 2014 South by Southwest (SXSW) Film Conference and Festival in Texas – that the script is already finished. Furthermore, in the same interview, Blum revealed that the screenplay for another Blumhouse horror sequel, Sinister 2, has been completed and that both projects will (with a little luck) begin filming this summer.

The third Insidious movie, for those unaware, has been written by Leigh Whannell, who scripted the first installment and co-wrote last year’s Insidious: Chapter 2 with James Wan (who’s directed all Insidious movies so far). Similarly, the Sinister sequel was co-written by C. Robert Cargill and Scott Derrickson, the same duo who collaborated on the original film (which Derrickson directed). Details on Sinister 2 are sparse, though Blum told STYD that it’s the same tone as its predecessor, “Plus it’s got a lot of new stuff in it.”

Without explicitly spoiling the ending to Derrickson’s original film – a solid spooky flick that uses old-fashioned scare tactics with a cautionary tale subtext – it’s safe to guess that the followup will revolve around a whole new primary set of human characters, while also delving deeper into the mythology of the franchise’s big baddie – the pagan Babylonian deity Bughuul. As for the next Insidious movie, Chapter 2 (read our review) left the door open for additional trips into The Further – and encounters with the demons that reside there – though, not necessarily with the same cast members as the first two movies.

Behind the camera, Derrickson isn’t expected to direct Sinister 2, and Wan will presumably be too busy with post-production on Fast & Furious 7 to call the shots on Insidious 3 when production gets started this summer. That raises a significant doubt about both films, since careful direction was key to the scariness of their predecessors; one just hopes that satisfactory substitute helmers are found to handle the followups.

Insidious: Chapter 3 is slated to open in theaters on April 3rd, 2015.

Sinister 2 is expected to reach theaters by 2015.

Source: STYD