New indie horror flick Paranormal Activity, which is currently sweeping America, is the most profitable movie of all time, reports say.  

TheWrap.com has been doing some number crunching and says because the film cost just $15,000 (£9,120) to make and raked in $22m (£13.3m) over its first weekend, it is the single most profitable movie in history.

The site found the film delivered a staggering 434,000% return on investment, a number which will grow in the coming weeks as it has just received a wide US release due to unprecedented demands.

In profit terms, Paranormal Activity has already exceeded the film it is most often compared to, The Blair Witch Project.

It tells the story of a young couple who move into what seems like a typical suburban house.

But they soon become increasingly disturbed by a presence that may or may not be demonic but is most active in the middle of the night.

Being the most profitable film is not the only accolade being attributed to the film.

E! Online has described it as “one of the decade’s scariest films”.