The new I Know What You Did Last Summer movie clearly teases a sequel, but it will have to make enough money at the box office for one to get greenlit. Since the original movies in the franchise are beloved by many horror fans, anticipation was high for the legacy sequel. Unfortunately, many reviews for I Know What You Did Last Summer have been quite negative.

Many of these negative reviews note some controversial story decisions that the slasher film makes. For example, Freddie Prinze Jr.’s Ray is one of the killers in I Know What You Did Last Summer. This plot point wasn’t set up that well, and has negatively impacted the movie. However, in addition to Prinze Jr., fans also got to see Jennifer Love Hewitt reprise her role as Julie.

Julie and Ava manage to kill Ray, but the former is still receiving threatening notes. Therefore, during the post-credits scene of I Know What You Did Last Summer, Julie visits her old college roommate, Karla, to ask for help. Karla immediately agrees, which sets up the story of a sequel movie. While I Know What You Did Last Summer had a franchise low box office opening, it’s still possible that the sequel will happen.

I Know What You Did Last Summer Could Still Easily Become A Box Office Success

The Slasher Movie Had A Relatively Low Budget

Even though Ray dies at the end of I Know What You Did Last Summer, he was not the only killer in the movie. Before Ava and Julie realize that Ray has been donning the Fisherman’s outfit, it is also revealed that Stevie has been hunting the characters down.

During the movie’s climax, Stevie holds the hook to Danica’s throat, threatening to kill her. This scene ends with Ray shooting Stevie, sending her overboard. While she seemingly dies in this scene, Ray later reveals to Ava that Stevie is still alive at the end of I Know What You Did Last Summer. More than likely, Ray was shooting blanks during the boat scene to trick Ava.

Since Stevie seemingly survives the events of the movie, she can return to try to kill characters like Ava, Danica, and Julie in a sequel to I Know What You Did Last Summer. Ava and Danica talk about how they may have to kill Stevie at the end of the film, which suggests that they would both return for the sequel.

Additionally, I Know What You Did Last Summer’s post-credits scene teases that Julie and Karla will also be main characters in the sequel. While it’s possible there could be another killer who wants Julie ᴅᴇᴀᴅ, the note she hands over to Karla is probably from Stevie. Therefore, fans of 1998’s I Still Know What You Did Last Summer could be in for a treat if Julie and Karla do indeed get the chance to team up again.

Of course, I Know What You Did Last Summer needs to be profitable at the box office for a sequel to be greenlit. Unfortunately, the new movie had the worst opening weekend at the domestic box office of any movie in the franchise. I Know What You Did Last Summer made $12 million domestically during its opening weekend (via Box Office Mojo), whereas the original movie made $15 million and the 1998 sequel made $16 million.

However, thankfully, I Know What You Did Last Summer’s budget was only $18 million, which is quite low. Since movies typically need to make two and a half times their budget to be profitable at the box office, the new slasher film will have to gross at least $45 million. Based on its performance so far, this is definitely doable.

I Know What You Did Last Summer’s Low Budget Increases The Chances Of A Sequel Happening

I Know What You Did Last Summer Didn’t Need A Big Budget

As of this writing, I Know What You Did Last Summer has made $27 million at the worldwide box office. The legacy sequel hasn’t slowed down at the box office yet, so there is a chance it could hit the $45 million milestone and be deemed a success by Sony.

Since I Know What You Did Last Summer had quite a modest budget, it doesn’t need to be a huge $100 million-plus hit for a sequel to be greenlit. As long as it makes over $45 million, Sony should feel comfortable greenlighting a sequel, which would probably have a similar budget. Therefore, the fact that Sony played it safe with the budget could be a great thing for fans of the I Know What You Did Last Summer franchise.

Based on its box office performance so far, it’s clear that I Know What You Did Last Summer isn’t as popular as other slasher franchises, such as Halloween and Friday the 13th. Obviously, the negative reviews aren’t helping the new movie either. However, there is definitely still an audience for future films featuring the Fisherman.

Even though the latest film in the franchise is quite underwhelming, it would be great to see characters like Ava, Danica, Julie, and Karla return for a sequel. If not, the story that has been set up will never be properly resolved. Therefore, I hope I Know What You Did Last Summer can make at least $45 million throughout its theatrical run.