The Blair Witch Project

The Blair Witch Project remains the most profitable found footage film ever, having grossed $248 million on a $60,000 budget—a 4,133x return that no other indie horror has matched. Its three student filmmakers vanish in the Maryland woods, and their recovered footage relies entirely on suggestion: a bundle of sticks, a corner of the room, Heather's tearful confessions. No special effects. No gore. The viral marketing campaign, which created fake missing-person posters, was 30% more effective than Paranormal Activity's initial release strategy, setting a benchmark for audience immersion that remains unrivaled.