Gird your horror-loving loins for more security camera spookiness, because yet another Paranormal Activity is on its way. According to The Wrap, Paramount CEO Jim Gianopulos announced at CineEurope in Barcelona that a seventh entry in the found-footage franchise is officially in the works. The studio will once again partner with producer Jason Blum, the Blumhouse head honcho who basically figured out the ideal low-budget, high-reward formula that's been making a killing at the box office these last few years.

The first Paranormal Activity became a bit of a phenomenon when it was released in 2009, a chillingly effective haunted house spookshow that grossed $193 million worldwide on an absurd budget of roughly $15,000. (Still one of the biggest profit margins in movie history.) Since then, the franchise has grown in both scope and story wonkiness, turning a relatively simple poltergeist story into a six-movie saga about demonic possession, cults, and witchcraft. The latest entry, 2015's Paranormal Activity: Ghost Dimension directed by Gregory Plotkin—the sixth movie in the franchise, but a sequel to Paranormal Activity 4—was the lowest-earner of the series by a wide margin, taking in $78 million worldwide. Although, again, it did so on a $10 million micro-budget.

Although plot details are still being kept under wrap, it'll be interesting to see where Paramount goes with the franchise after a downturn in quality and general enthusiasm, especially when you consider what Blumhouse has been doing as of late. Remember, this is the place that took the 11-movie Halloween franchise, said "forget everything except the 1978 original," and released director David Gordon Green's Halloween to a franchise-record monster profit. I'm not saying they should do exactly that with Paranormal Activity, but hey maybe they should do...exactly that with Paranormal Activity.