Candyman is returning to theaters for the first time in over 20 years, but how much did the new film cost to make, and can it be a success at the box office? The original 1992 film became an instant classic upon its release, creating a dedicated fan base and spawning two sequels that have generally been viewed as sharp drops in overall quality. The new Candyman again stars Tony Todd as the titular killer, alongside newcomers Yahya Abdul-Mateen II, Teyonah Parris, Nathan Stewart-Jarrett, and Colman Domingo.

Unlike many of the big blockbusters that have previously been released during the Covid-19 pandemic, Candyman will premiere as a theatrical exclusive, with no same-day streaming option for at-home viewers. Theatrical exclusivity has worked out well financially for films like A Quiet Place Part II and F9: The Fast Saga, and it could do the same for Nia DaCosta’s 2021 version of Candyman. Cinema attendance is still way down, however, causing some doubt about the film’s ability to become a box office hit.

Related: The New Version Of Candyman Was Teased In The 1992 Movie

The new Candyman movie has a reported production budget of $25 million. The general rule of thumb is that a movie needs to gross about double its production budget to break even, which would mean that Candyman has to shoot for upwards of $50 million to be a true success. Of course, the landscape is more than a little bit different as the coronavirus continues to be a global health hazard. That means that ticket sales are still down, and VOD income could be higher than normal once Candyman leaves theaters, especially without a streaming partnership lined up.

Overall, the new Candyman movie's current box office outlook seems pretty good. The film is projected to gross around $15 million in its opening weekend, and since it’s the only big new theatrical release premiering on the weekend of August 27, it could exceed that number. Non-streaming films have also generally had longer tails at the box office during Covid-19 than those with at-home viewing options, which means that Candyman could keep earning strong returns for weeks after its premiere.

The resounding success of A Quiet Place Part II – a movie with more than double the budget of Candyman – shows that theatergoers are still happy to shell out cash for horror movies in the pandemic era. Plus, Candyman has the benefit of name recognition for cowriter-producer Jordan Peele and director Nia DaCosta, and for the franchise as a whole, which is still beloved by horror fans. That’s not a guarantee that Candyman will be a huge success at the box office, but it certainly has a good shot.

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