When Paramount picked up Paranormal Activity, which turned out to be a smash hit, the company helped push forward the idea of major studios making films on shoestring budgets. Paramount has been developing a program to make microbudget movies, and now Lionsgate has announced a ‘microbudget’ initiative that will ideally generate up to ten films per year. Lionsgate’s version of ‘microbudget’ is a little different than most — these are budgeted under $2m. That’s a lot less than what most studio films cost, but the term usually conjures up films costing around $100k.

Regardless, info is out on the first three Lionsgate movies. One is Rapturepalooza, starring Craig Robinson (Hot Tub Time Machine, The Office) as the Antichrist. More info on that and two others, after the jump. Read More »

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