Paramount Lands U.S. Rights to 'A Nightmare on Elm Street' for New Film

Paramount Pictures has acquired the U.S. rights to adapt Wes Craven’s original screenplay for a new “A Nightmare on Elm Street” movie, according to a report by TheWrap. The deal was secured for the studio's new genre label, Paramount Primal.

What is Paramount Primal?

The project will be overseen by Paramount Primal, a label run by producers J.D. Lifshitz and Raphael Margules, known for the horror film “Barbarian.” They will executive produce the new film. The rights were licensed from the Wes Craven estate, which includes Iya Labunka and Jonathan Craven. The trio, along with Marc Toberoff, will produce the movie.

What do we know about the new film?

The film is currently in “priority development,” as described by the studio. While plot specifics have not been revealed, it will be set in the world of the original film and based directly on Craven's screenplay. In a statement, producer Iya Labunka expressed excitement about the partnership. “We look forward to bringing the world of Wes Craven’s ‘Nightmare on Elm Street’ to a new and completely engaged generation of fans,” she said.

Lifshitz and Margules echoed the sentiment, calling the opportunity “an honor beyond words” and stating they look forward to “bring a terrifying new nightmare to audiences everywhere.”

What was the original film's impact?

Wes Craven’s original “A Nightmare on Elm Street” was released in 1984 and launched a massive horror franchise. It introduced the iconic villain Freddy Krueger, played by Robert Englund, and became a major commercial success. The film grossed $57 million worldwide on a modest budget, according to TheWrap. It spawned six sequels, a TV series, and a 2010 remake.