It shatters box office records

WARNER BROS

WARNER BROS

It's also the biggest opening ever for a horror film. Not only that, but it's the largest three-day opening weekend for an R-rated movie, the third largest box office opening of the year, the biggest opening for any September release, and the largest opening weekend for New Line Cinema.

But while "It" is the most exciting new release of the weekend, it is not topping the global box office charts.

Before this past weekend, "Paranormal Activity 3" had the biggest horror opening from 2011 with $52.6 million, and the highest September debut was "Hotel Transylvania 2's" $48.5 million in 2015.

When it comes to R-rated films, the biggest opening was none other than Deadpool, setting the bar at $132.4 million. Compare that to Beauty and the Beast, which was rocking a $160 million budget, or Guardians of the Galaxy Vol. 2's $200 million budget, and IT easily has had the most profitable opening weekend of the year, and its overall gross could be just getting started.

A sequel to It was already in development before the film hit theaters this weekend, with writer Gary Dauberman returning to write and Andy Muschietti back to direct.

WARNER BROS  GETTY IMAGES
WARNER BROS GETTY IMAGES

Warner Bros. and New Line's latest movie is based on renowned horror writer Stephen King's 1986 novel of the same name. Hell, horror movies don't do this type of business, regardless of rating.

Lionsgate's action comedy film "The Hitman's Bodyguard" dropped to third place with an estimated 4.85 million USA dollars after a three-week lead at the gloomy North American box office. The road ahead is bright for It which could finish its domestic run in the $250-300M range which is just mind-blowing for a $35M production.

The film's success is good news not just for Warner, but all of Hollywood.

"It's humbling when something performs behind your wildest expectations", says Warner Bros. This weekend, Homecoming dropped 45.3 percent to bring in another $2 million.

IT also received positive reviews, including 87% on Rotten Tomatoes and a B+ CinemaScore. Wonder Woman's worldwide total is now $816 million.

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