[Check out the first Paranormal Activity 3 trailer!]

After playing at a few film festivals and eventually getting a limited theatrical release, Paranormal Activity rocked the box office through a mind-blowing and plague-like spread of positive word-of-mouth and some innovative marketing. It was able to bring in nearly $200 million worldwide on a budget of a mere $15,000, making it one of the most profitable films ever made.

From there, Paranormal Activity writer and director Oren Peli earned himself a fast-tracked sequel for which he produced, and it debuted last month. While this time they had the cashflow to play with, a similar success story occurred and Paranormal Activity brought in $150 million+ on a $3 million production budget. Using rocket science-like deduction, that meant Paranormal Activity 3 would be on its way and now it’s confirmed.

Our friends at Dread Central have the exclusive after talking to Oren Peli directly and he was able to confirm for them the official release date of Paranormal Activity 3. The third installment of the supernatural-horror franchise will hit theaters October 21, 2011!

That makes it three Octobers in a row and Paranormal Activity is now a full-fledged franchise – if it wasn’t already. Paramount and Peli will have to be very creative in order to deliver another interesting sequel that can offer a similar success to that of its predecessors, in quality as well as financially.

Can Paranormal Activity be the next annual Halloween movie franchise, taking over for Saw which apparently ended with Saw 3D last month? Can they extend the story down new paths or tell different stories entirely that will keep the fans coming back for more? Our own Kofi Outlaw discussed the topic of Paranormal Activity 3 and whether the found-footage format will still work, offering an intriguing idea for the next film and its characters.

What would you like to see in Paranormal Activity 3?

Share your thoughts with us on Twitter @rob_keyes and @screenrant.

Paranormal Activity 3 hits theaters October 21, 2011 and we’ll let you know more about Micah Sloat, Katie Featherston and others as the talent officially joins the project.

Source: Dread Central