"Lionsgate & Flame announces production of 'Paranormal Activity 3,' with the wunderkind Wang Yang returning to the horror apartment after six years."
In 1998, at the age of just 18, Wang Yang produced 'Paranormal Activity' for $10,000 US Dollars. Using innovative viral marketing on the internet and distributed by Lionsgate, it grossed $323 million globally, astonishing the world; the following Halloween, without the wunderkind Yang, 'Paranormal Activity 2' was made with a budget of $10 million and ultimately earned $35.26 million at the North American box office and $57.73 million worldwide. In fact, Lionsgate made a little profit, but the terrible reviews and rapidly declining box office trend made them hesitate to make further moves. That same year, Wang Yang released 'High School Musical,' igniting yet another craze at the end of the world.