Horror fans are flocking to YouTube to watch the trailer for Paranormal Activity 4 as Paramount officially revealed on Monday it is pursuing another chapter in the hit Halloween franchise. Although the studio is yet to set a date, according to The Hollywood Reporter, the movie is slated for release in 2012.

Produced on a miniscule budget, the success of the Paranormal Activity films is a sizeable victory for Paramount and producers Jason Blum, Oren Peli and Steven Schneider. Unusual for a third outing, Paranormal Activity 3 bested the first two films, grossing $202.2 million worldwide.

Paranormal Activity 3, which cost $5 million to produce,opened to a massive $54 million in 2011 -- the top launch of all time for a horror film, as well as the best October debut ever.

The first Paranormal, which cost $15,000 to produce and opened in a limited run in September 2009, went on to gross $193.4 million worldwide. Paranormal 2 cost $3 million to produce, and grossed $177.5 million worldwide.