River's $10M TIFF Acquisition and What It Means for Genre Film

Last year, Obsession was acquired out of TIFF’s Midnight Madness section for around $15 million and went on to gross over $500 million globally. This led to the biggest question heading into the 2026 festival. What was going to be this year’s Obsession story?

That question had already been answered by opening night of the festival. Joshua Giuliano’s River, a horror film about three estranged siblings stalked by a faceless killer while scattering their father’s ashes on a remote river, sold to Universal Pictures and Blumhouse for more than $10 million. It’s also Giuliano’s first feature.

How the deal went down

River opened Midnight Madness with its world premiere on September 10, starring Jane Levy and Jessica Rothe. Interestingly, the film already had a home heading into the festival, with Independent Film Company and Shudder holding the US rights.

The premiere at TIFF changed that completely. Sony reportedly bid $8 million, while Focus, Paramount, A24, and Netflix passed. Universal and Blumhouse offered north of $10 million for the US and select territories, and IFC and Shudder agreed to sell. River is now slated for theaters in January 2027.

TIFF launched its first formal market this year and drew 19% more buyers than in 2025, but deals were slow to close. River stood out because it was one of the few films buyers were willing to fight over.

Why River sold

Genre is hotter than ever right now. Following Obsession, Midnight Madness became the section buyers prioritize watching. Relationships also did the heavy lifting for River. Sam Zimmerman, who now runs the indie slate at Blumhouse, worked with Giulano on River during his time at Shudder. A week before the sale, Blumhouse and Focus Features had already signed on for Giuliano’s next film, Occupant. When an executive who believes in you changes companies, that belief still follows them.

Before Giuliano’s feature debut, his short In Sound, We Live Forever was runner-up in the short film category at Fantasia, and Tiny Thing played FrightFest, Fantastic Fest, and Beyond Fest. He already made a name for himself beyond River. That made buyers pay attention when his first feature landed.

Not every sale turns into the next Obsession, but River is a reminder that the genre circuit is a pipeline that’s hotter than ever right now, and that a strong premiere can create leverage even for a film that already has a home. As always, find and submit to the best festivals or manage your own festival on The Circuit by Hiike Independent.