Paranormal Activity has surpassed The Blair Witch Project to become the most profitable movie ever made, The Wrap has learned.

The film became a slashing smash as the box office after word of mouth on social networking site like Facebook and Twitter rose its profile. Directed by Oren Peli on a budget of $15,000, P.A. beat Saw VI to top the US box office last weekend and has grossed $62.4million in its five on release.

Paramount has spent less than $10million The Blair Witch Project, on the other hand, was made for $60,000 in 1999 and recouped 414,233% for Artisan Entertainment.

“Everybody else thought we should be going faster than we were,” said the studio’s Executive Vice-President of Distribution Don Harris. “But I thought we were doing a pretty good job of seeding the ground as we went.”

Paramount Pictures recently announced that it is considering making a sequel to the surprise hit movie.