It seems a bit bizarre to imagine Freddy Krueger saving anything, but New Line Cinema, a studio that was rescued from financial ruin by taking a chance on Wes Craven's Nightmare on Elm Street still feel indebted to the iconic slasher and his creator.
After Craven's script for the seminal '80s horror was rejected multiple time for a plethora of different reasons, it was New Line Cinema who saw the potential and put up $1.8 million to make the movie a reality, a number that was earned back in the first week that Freddy was unleashed on cinema goers.
Craven's now-revered movie went on to gross close to $26 million in the US box office alone and gave the studio the cash injection it needed to survive a tough financial period. The alliance between Wes and new line was so successful that it even earned the studio the nickname “The House That Freddy Built”.
Now, after the iconic horror director has sadly passed away aged 76, New Line have issued a statement that show how important their relationship with the slasher trailblazer really was. They told Bloody Disgusting that:
In 1984, Wes Craven brought “A Nightmare on Elm Street” to New Line, and in so doing, altered the course of the studio’s history. We are eternally grateful to our friend and partner, and are proud to be “The House That Freddy Built”.
(Source: Bloody Disgusting)