Fans are finally getting a new chapter in the Freddy Krueger saga, but it’s not without its complications. Paramount recently won the rights to Wes Craven’s original screenplay for 1984’s “A Nightmare on Elm Street,” breaking the barrier that kept a new film from being made. The hitch, however, is that Paramount only has the domestic rights, whereas Warner Bros. now possesses the international rights. That’s quite a wrench thrown into the distribution of a new film.
Both studios also have very different approaches to “A Nightmare on Elm Street” that could cause considerable creative strife in the legal rights war. It brings to mind the complicated “Friday the 13th” battle between director Sean S. Cunningham and writer Victor Miller, which resolved in 2021 with Miller winning domestic rights for everything in the original film and Cunningham landing ownership over adult Jason and the hockey mask.
Here’s the breakdown of the “A Nightmare on Elm Street” entanglement.
Paramount to Pull a ‘Psycho’ Remake
Paramount now owns the rights to the screenplay of the 1984 original film, meaning they are only permitted a shot-by-shot remake. Everything in the original, including Freddy Krueger and Nancy Thompson, is fair game. That’s domestically. Warner Bros. currently has the international rights, per a new report from Puck.
Similarly, Alfred Hitchcock’s 1960 proto-slasher “Psycho” saw a 1998 shot-by-shot remake helmed by director Gus Van Sant. The film starred Vince Vaughn as Norman Bates and Anne Heche as Janet Leigh’s iconic character Marion Crane. On a $60 million budget, it grossed only $31 million globally. Such a low ROI calls into question the commercial appeal of a similar approach by Paramount in the 2020s.
Paramount had hoped it could get its film off the ground, compelling Warner Bros. to release its film to global markets, but with the Warner-Paramount merger currently on hold, the situation is even more complex. Consequently, Warner now eyes its own take on the classic IP that could force Paramount’s hand into agreeing to release domestically. Additionally, Paramount doesn’t own the commercial rights for merchandise, but it does have the blessing of Wes Craven’s widow and son.
“I think we’ve got a bit of a race,” a Paramount source told Puck. “We’re going to do our f***ing damndest to beat them.”
Warner Bros. Has a Director in Mind
While Paramount has neither a writer nor a director attached to its project, Warner Bros. is courting Lee Cronin (“Evil Dead Rise,” “The Mummy”) to write, direct and produce a new “A Nightmare on Elm Street” film.
Cronin is currently a hot name in Hollywood for his unique spins on two established horror IPs, bringing fresh perspectives to “The Evil Dead’ universe and the 1932 classic “The Mummy” movie. He also executive produced the newly released “Evil Dead Burn” and will executive produce “Evil Dead Wrath,” a prequel film set for an April 2028 theatrical release.
With these bold creative options on the table, Warner Bros. and Paramount battle for the perfect “Nightmare” to entice the next generation of horror fans and lure back franchise loyalists. A new entry will be the first Freddy film in 16 years, and fans are beyond anxious to see their favorite villain on the big screen again. The studios have their work cut out for them.
