[UPDATE: The project in question is actually the Paranormal Activity Latino spinoff. Read on for more details.]

Writer-director Oren Peli’s Paranormal Activity was the mico-budgeted indie flick that could, starting its film festival run in 2007 and culminating with a $193 million global theatrical gross (on a $15K budget) in 2009. The horror movie’s runaway success gave birth to a new tradition, where a subsequent installment in the found-footage series would release around Halloween each year thereafter (much like the Saw franchise did from 2004 until 2010).

Paranormal Activity 5 was set to continue the tradition, back when Paramount had plans to release the film in theaters by October 2013 (which became semi-official news mere days after the fourth installment had opened to $29 million and scathing reviews). The studio has since decided to delay the movie, by going so far as to remove it from 2013 altogether and schedule it for January 3rd, 2014.

It’s a curious move on Paramount’s part, seeing how – at this point in the series – it feels like a significant percentage of the Paranormal Activity crowd keep turning out for these movies as an All Hollows’ Eve tradition (i.e. in order to celebrate the season with a “scary” flick); as opposed to, they’re still expecting to get a decent explanation for the convolutions in the franchise’s over-arching continuity.

Paramount has filled the October slot left empty by the fifth Paranormal Activity movie with Jackass Presents: Bad Grandpa, which will open a week after Carrie. PA5 was previously lined up to face off during its first weekend against Ridley Scott’s The Counselor (a potential awards contender) and Spike Lee’s Oldboy (a remake gunning for cinephiles’ attention). That is to say, PA5 wasn’t facing much direct competition for attention from the scare-hungry demographic.

On the other hand, January has proven to be a lucrative month for releasing concept-based horror genre installments and additions to the found-footage sub-genre in recent years, as we saw with the lackluster The Devil Inside back in 2012 and the better, but flawed, Guillermo del Toro-produced Mama earlier this year.

That track record doesn’t exactly suggest that Paranormal Activity 5 could be a return to form for the minimalistic supernatural horror series, but it does bode well for the film’s box office prospects when it opens next January (leading to the “Latino Paranormal Activity spinoff,” which is also due to arrive next year).

UPDATE: Actually, it turns out that the Latino-targeted Paranormal Activity spinoff IS Paranormal Activity 5, for the time being. According to The Wrap, the film is being written and directed by Christopher Landon (writer of Paranormal Activity 2-4) and will take place in a parallel universe, relative to the previous movies. The next straight-forward installment in the Paranormal Activity franchise is reported to have neither a writer nor director (for the time being), but is still expected to hit theaters in October.

Let us know if you’re still planning to see Paranormal Activity 5/the Paranormal Activity Latino spinoff in theaters in the comments section.

The Paranormal Activity Latino Spinoff opens in U.S. theaters on January 3rd, 2014.

Source: Paramount [via Box Office Mojo]