Industry executives and filmmakers at the Zurich Summit said the huge success of horror films Obsession and Backrooms had exceeded everyone’s expectations. CAA’s Roeg Sutherland said the team selling Obsession believed in the film but could not have predicted its extraordinary performance, arguing that backing the filmmaker matters more than relying solely on established intellectual property or genre.

Obsession was sold to Focus for about $14 million and earned $264 million in the US and $520 million worldwide from a $1 million budget. Backrooms, directed by 20-year-old Kane Parsons, grossed approximately $400 million globally on a $10 million budget, despite uncertainty over its appeal beyond creepypasta fans. Executives also linked the films’ success to a record $4.7 billion US summer box office and growing audience demand for authentic, irreverent and unexpected cinema.