If you were a teenager of the '90s like myself, then you likely have a spot in heart for I Know What You Did Last Summer, the horror movie your entire high school likely turned out to see, starring four young up and coming hot stars of the day (Jennifer Love Hewitt, Sarah Michelle Gellar, Freddie Prinze, Jr. and Ryan Phillipe). The film was written by Scream writer Kevin Williamson - adapting the already popular book by Lois Duncan - which gave it connective tissue with one of the more popular horror films of the decade (not a bad boost).
While it might've been an event film for the '90s MTV crowd, anyone looking back at I Know What You Did Last Summer now probably (and rightly) sees a schlocky horror B-movie with questionable performances and overwrought kill sequences... Which is probably why news that the film is getting a remake probably won't upset many people the way other remakes do.
Deadline reports that Sony is fast-tracking the I Know What You Did Last Summer remake, hoping for a 2016 release. It already has a writer in the form of Mike Flanagan, the writer/director of Oculus, the mind-bending 2014 horror film starring Guardians of the Galaxy star Karen Gillan, which grossed $40 million worldwide on a $12 million budget. Flanagan is also producing the film alongside his Oculus co-writer Jeff Howard and Neal Moritz, producer of the original IKWYDLS.
As stated, nobody is likely all that upset that this movie is being revisited; considering the long (and more recent) history of horror movie remakes, this property far from the most sacred cow in the herd. By now these horror movie makers know the game like clockwork; in fact, they're some of the only ones in the movie biz still making a buck consistently and steadily, while still getting to break new ideas, new properties/franchises, new talent, etc. This remake will only continue that trend.
Currently no word on a director - but if history holds true, it will be enterprising and upcoming new talent - or one of the more affordable directors already in the circle with Flanagan and co (if not Flanagan himself). Either way, with some young talent (say, pulled from the TV sector), in the four principal lead spots, a quick shoot, some moderate marketing costs.... It's an easy win. No reason at all to expect that a new generation won't turn out to see this as an event, just as mine did (to the tune of $125 million worldwide); one only hopes that if the remake is successful, the inevitable sequel isn't as horrendous as the one we got.
We'll keep you updated on this I Know What You Did Last Summer remake, including who has been cast in it, and who is directing. The film is aiming for a 2016 release date.