Same time next year.

With the huge success of Paranormal Activity 3, expect yet another sequel next October.

I can't imagine that we wouldn't make a number four, and I imagine (Paramount Film Group president) Adam Goodman this morning is thinking about the challenge, Don Harris, Paramount's head of domestic distribution, told TheWrap on Sunday. I'm sure he's thinking, 'Now what do I do?'

He sort of has to.

Paranormal is arguable the most profitable film property of all time. The first installment, made for a mere $15,000, grossed $193.35 million worldwide. The second, made for $3 million, grossed $177.51 million worldwide.

And the third, which opened Friday, opened to $54 million -- the highest-grossing opening weekend for a horror film ever and the biggest October opening ever. Its budget: $5 million.

So far, the three films have cost a total of $8,015,000 and have grossed a worldwide total of more than $450 million.

How's that for a return on investment?

Harris said that when Paramount picked up the first Paranormal in 2009, We thought, 'Maybe we can do something with it at midnight, or release it digitally, or who knows what? We put it in some theaters with no advertising, just online. And that movie went on to do $108 million domestically.

Now, Paranormal Activity has become an October tradition for Paramount -- one that Harris expects to continue.

It's certainly possible to have another October release, he said.

He explained that last year, Paramount saw the success of Paranormal 2 and quickly pulled together Paranormal Activity 3.

I'm sure the right material and the right director will have to come together with the budget, because they don't spend a lot of money.

Advertising Investment Advertising Investment