and The Blair Witch Project was one of the most profitable. Whether you like the movie or not you have to give kudos for being the first.
” The Blair Witch Project is a 1999 American found footage psychological horror film written, directed and edited by Daniel Myrick and Eduardo Sánchez. The film tells the fictional story of three student filmmakers (Heather Donahue, Michael C. Williams and Joshua Leonard) who hike in the Black Hills near Burkittsville, Maryland in 1994 to film a documentary about a local legend known as the Blair Witch. The three disappear, but their video and sound equipment (along with most of the footage they shot) is discovered a year later; the “recovered footage” is the film the viewer is watching.
While the film received unexpected acclaim from critics, audience reception was polarized. It became a resounding box office success–grossing over US$248 million worldwide, making it one of the most successful independent films of all time. The DVD was released on October 26, 1999 and, in 2010, a Blu-ray edition was released.” – https://en.wikipedia.org/wiki/The_Blair_Witch_Project