Nov 19, 2010 08:51 GMT  ·  By

2010 marked the year when the time-enduring horror franchise “Saw” came to an end with the last ever installment “Saw 3D.” Still, horror fans needn’t despair because it looks we have another player in “Paranormal Activity.”

The first film arrived in theaters all over the world years after being completed and after making the rounds of horror film festivals, in 2009. The sequel dropped in 2010.

According to Bloody Disgusting, a third film will also be made – and will see release no later than 2011, which means we can already speak of a new scary tradition.

This is not only a rumor either, since it’s the first film’s director Oren Peli who confirms it. Whether the story will go back or further in time has not yet been announced – and chances are neither will it be, not to spoil the surprise for moviegoers.

“Bloody Disgusting has received exclusive confirmation from producer Oren Peli (also director of the first film) that Paramount Pictures has locked down an October 21, 2011 release date for Paranormal Activity 3,” the e-zine reports.

“No other details are available at this time. The Tod Williams-directed prequel/sequel Paranormal Activity 2 has grossed $156m worldwide. Peli’s groundbreaking 2009 film has topped $193m,” Bloody Disgusting writes.

As for questions of what fans may expect from the film, these are as many as they are burning. For instance, buzz is building up that this could be a “trilogy.”

On the other hand, voices in the blogosphere are saying Paramount has no reason to drop the franchise after a third installment, if it proves as successful as the first, which means it could go on for many years to come.

There’s also the question of knowing when to stop, fans of the first two films note: while the first “Paranormal Activity” was groundbreaking in terms of movie-making, the second one was just as good, without managing to top it (which is standard expectation for a sequel).

On this note, some believe a third film would only slip lower in fans’ estimation, while a fourth or a fifth would ruin the franchise altogether.

Paramount will, hopefully, answer all these questions above in due time – in a manner that will please fans.