A theatrical misfire becomes a streaming surprise
When The Exorcist: Believer opened in theaters in October 2023, it was widely seen as the failed launch of a potential franchise: poor reviews, weak box-office returns and cancelled sequels. Fast-forward three years, and the David Gordon Green–directed picture is drawing significant attention on Netflix, appearing among the platform’s most-watched films globally while bigger-profile titles like Prometheus topped the charts. The turnaround underscores how streaming can give bruised studio tentpoles a second life—and what that means for studios and franchises.
The rise-and-fall story in brief
Universal Studios had high hopes for Believer. The studio tapped David Gordon Green off the strength of his recent horror work—most notably his reboot of Halloween, which, despite diminishing returns across its trilogy, collectively grossed close to $500 million worldwide. Universal also invested heavily in the property, reportedly spending around $400 million to secure distribution rights for related material.
Believer reunited original Exorcist stars Ellen Burstyn and Linda Blair and was initially positioned as the first entry in a new Exorcist series. But the film underperformed: it earned under $140 million worldwide against a reported $30 million production budget, suffered a steep 58% drop in its second weekend, and received a 22% score on Rotten Tomatoes—the site’s critics’ consensus calling it an “inauspicious” debut. Plans for follow-ups, including The Exorcist: Deceiver, were shelved.
Why the theatrical release struggled
Several factors help explain the movie’s poor theatrical showing:
- Critical reception: A low Rotten Tomatoes score and negative reviews dampened early enthusiasm and likely discouraged casual moviegoers.
- Weak word-of-mouth: The large second-weekend decline signaled that audiences weren’t recommending the film, making it hard to sustain a theatrical run.
- Franchise expectations: Reviving a landmark 1973 horror property imposes an unusual level of scrutiny; fans and critics often compare reboots unfavorably to originals.
- Market conditions: Horror releases can be hit-or-miss at the box office depending on timing, competition and audience appetite for big-screen scares versus home viewing.
Those elements combined to extinguish the momentum Universal had hoped would launch a multi-film series.
Why streaming suits Believer better
Despite that theatrical stumble, the film is now finding viewers on Netflix. There are several reasons this pattern is common for underperforming tentpoles:
- Lower barrier to entry: Streaming lets curious viewers sample a film without the expense or time commitment of a theater trip.
- Catalog and brand recognition: The Exorcist name remains potent, and nostalgia or curiosity about how a modern studio handled the material can drive clicks.
- Algorithmic exposure: Platforms surface content to viewers based on viewing habits; a modest early spike can cascade into broader discovery.
- Different viewing habits for horror: Many audiences prefer watching supernatural horror at home, where the experience is more intimate and easily rewatched.
The result: a title that failed to meet theatrical expectations can still accumulate significant audience attention and cultural footprint on a major streamer.
What the rebound means for Universal and the franchise
Universal has already moved in a different creative direction: Mike Flanagan, known for his serialized horror work, is developing a separate Exorcist reboot. The streaming success of Believer reinforces two industry truths. First, studios can recoup value—and glean audience insights—through digital platforms even when theatrical performance falters. Second, a film’s life cycle now routinely includes streaming as a potential place of redemption, influence and longer-term monetization.
For Universal, the Believer case is a reminder that investments in IP rarely end with a single theatrical outcome. Whether through creative pivots, new showrunners, or strategic streaming placements, studios continue to chase ways to extract value from recognizable brands.
Bottom line
The Exorcist: Believer’s journey—from a maligned 2023 theatrical release to a quietly popular Netflix title—illustrates how the film industry’s relationship with audience attention has shifted. Box-office failure no longer guarantees obscurity, and streaming can offer films a second act. For studios and creators, that second act is increasingly part of the calculus when considering reboots, sequels and franchise strategy.