With just 15,000 dollars, Oren Peli brought back the found footage genre. Paranormal Activity used consumer grade video cameras and the fear of the unknown to terrify the viewers. In the first installment, the scares were fun and chilling, and the lore (or lack thereof) was compelling. And
of course, the famous ending left audiences shocked and with more questions on their mind. Then Paranormal Activity 2 did a decent job at answering those questions, despite being mostly a carbon copy of the first in terms of plot and structure.
After that, the audiences’ interest simmered down, which should have been Blumhouse Productions’ sign to stop. But since these films cost peanuts to make, they kept being churned out like a conveyor belt. Their need to connect the films all through the same story made them confusing and full of plot holes. The most recent one, Ghost Dimension, is supposedly the conclusion, but it made almost no money due to the lack of the interest.
If they must bring this franchise back (and most likely they will), there needs to be a brand new story involved without any stretching out into separate films. If there are new demons to get excited for, then there would be reason to be interested again. But for now, the found footage genre needs to disappear for a while.