A New Nightmare on Elm Street Movie in the Works at Paramount : Coastal House Media

Freddy Krueger is officially preparing to haunt audiences once again.

Jackie Earle Haley, Freddy Krueger

According to The Hollywood Reporter, Paramount Pictures has acquired the U.S. rights to A Nightmare on Elm Streetfrom the Wes Craven estate, with plans to develop a brand new feature film based on the legendary horror franchise. The project is currently in early development, with Marc Toberoff attached as producer alongside Iya Labunka and Jonathan Craven, the widow and son of the late Wes Craven. Lifshitz and Margules will serve as executive producers for Paramount.

Labunka expressed her excitement about bringing Freddy Krueger back for a new generation of horror fans.

“We look forward to bringing the world of Wes Craven’s Nightmare on Elm Street to a new and completely engaged generation of fans,” Labunka said in a statement. “We know that Wes would have been thrilled to see how horror is taking its long overdue place in the cultural canon. We can’t wait for all of us to sit together in a dark theatre around the campfire of today as the next chapter of the Nightmare story unfolds.”

Executive producers Lifshitz and Margules also shared their enthusiasm for the new film, praising the opportunity to continue one of horror’s most iconic franchises.

“We can’t remember a time before we were fans of Wes Craven,” they said. “The fact that Iya and Jonathan have entrusted us with this opportunity to help usher a new story into this world is an honor beyond words. We look forward to working alongside them to bring a terrifying new nightmare to audiences everywhere, and to welcome Freddy home.”

Robert Englund, Freddy Krueger [EVERETT]

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While no writer, director, casting details, or story information have been announced, the project marks the franchise’s first major step forward since the domestic rights reverted to the Craven estate in 2019.

Originally released in 1984, A Nightmare on Elm Street introduced audiences to Freddy Krueger, the razor gloved dream stalker who became one of horror’s most recognizable villains. The film spawned numerous sequels, a crossover with Friday the 13th, television adaptations, comics, and a 2010 remake.

With Paramount now steering Freddy’s next chapter, horror fans can finally look forward to the return of one of the genre’s greatest icons.