Over the past week, one conversation has dominated Hollywood executive lunches and studio staff meetings: What’s the next “Backrooms”? The industry is scrambling to figure out how to replicate the phenomenon of “Obsession” and “Backrooms,” low-budget psychological horror films directed by YouTube creators that have dominated the box office over the past two weeks. But “Backrooms” producer Peter Chernin, whose production company cofinanced the film, said he thinks the rush to sign deals with YouTube creators is a “big mistake.””It’s no different than making sequels. It’s jumping on an existing bandwagon,” Chernin said in an interview. “I guarantee you 80% will be failures. It involves no originality, it involves no innovation. Your job is to innovate, and your job is to look for fresh IP [intellectual property] and fresh voices. It’s not to just jump on a bandwagon.”Chernin has a unique background spanning traditional Hollywood as well as the YouTube creator space. He ran Fox’s movie and TV divisions from 1996 to 2009, overseeing box office juggernauts including “Titanic” and “Avatar.” Chernin went on to found a private equity firm, The Chernin Group, in 2010, which backed a number of companies in the creator economy space, including Fullscreen and Tumblr. In 2022 he cofounded North Road, a global content studio. Its Chernin Entertainment division coproduced and cofinanced “Backrooms” with independent film studio A24. “We are consistently looking for what’s new, what’s interesting, and where the world is going,” Chernin said. “I think that YouTube background gave us unique insights into doing this movie.” “Backrooms,” with a budget of just $10 million, has found particular success with younger audiences who were familiar with director Kane Parson’s YouTube series, which inspired the film. In the film’s first weekend in theaters, 86% of ticket buyers were under the age of 35, according to an audience survey by Comscore Movies and Screen Engine PostTrak.”Backrooms” crossed $100 million at the domestic box office in just six days, becoming the highest-grossing domestic film ever for A24.Basing a movie on established IP is a familiar strategy in Hollywood, where superheroes, popular book series or even toys like B …
