10 Low Budget Horror Movies That Dominated The Box Office
4. Open Water
In 1998, an American couple were on a diving boat expedition in Australia when they got separated from their party. A three day search was performed on the area but the couple were never found.
As tragic as this incident is, it inspired scuba divers, Chris Kentis and Laura Lau, to make a movie about a couple lost in shark-infested waters called Open Water. Using basic cameras, their own scuba equipment, and a minimal cast and crew, the couple felt like they could make the film for $120,000. Weirdly, half of the money went on hiring the sharks for two days of filming. (In case you were wondering, those were real sharks.) After filming on the weekends and holidays for two-and-a-half years, Open Water was completed.
Once it made a splash at Sundance, it got scooped up by Lions Gate Films, who distributed it in theatres in 2003. Even though Kentis and Lau weren't expecting a major profit, Open Water brought in a tremendous $55.5 million. If you take into account the amount paid for editing and marketing (which brought the budget up to half a million), the film still ended up making 111 times its money back.