Fear, frights and finance

The season of fear and frights is upon us again – it’s time to dust off your costumes and go for a bit of trick or treating. For many of us, the costs linked to Halloween don’t go beyond double figures – a bit for your outfit, some sweets (if you’re staying in) or alcohol (if you’re going out) – but there’s a whole industry out there, linked to ghosts and ghouls. Here’s a look at some of the ways that ghosts and ghouls can impact on the world of finance.

The Halloween industry

In 2013, the estimated UK retail value for Halloween stood at £230 million – this year, analysts are predicting that the cost will grow to £420 million. 52% of all UK citizens spent money on Halloween last year, with millennials and parents of young children being the key spenders. An average spend of £30 goes primarily on chocolates, sweets, pumpkins, fancy dress and decorations, and retailers are under increased pressure to ensure that these products are sustainable and robust.

Home possession

Living with people is bad enough, right? Clashes over cleaning, food, paying the bills – it’s hard enough with a living flatmate, so you certainly wouldn’t want to do it with a dead one, right? Well, odd as it may seem, finding a house with a ghost or two may actually be a sound investment.

A recent YouGov poll found that 34% of Brits believe in ghosts, and 3% believe that their house is haunted – that amounts to 75,000 properties. How does a haunting affect a house price? Well, statistician Dr Geoff Ellis found that homes reputed to be haunted cost 17% less than similar properties, and 6% of people are actually keener to live in a property that has had its own supernatural occurrences. Interestingly, millennials are key in this market – research by Forbes has found that younger people are happy to deal with hauntings if they can get a house for less, and they’re more than willing to push for a lower price on the first mention of the paranormal.

Fear at the box office 

The latest instalment in the Halloween franchise is sweeping the box office, taking $77.5 million in the US for the biggest Halloween opening ever. Traditionally, there are a slew of horror films released around this time of year, with distributors knowing that they will definitely find an audience seeking a good fright (in much the same way as you’ll see a load of romcoms in February). Last year saw the October release of Jigsaw and The Snowman, 2016 gave us Ouija: Origin of Evil – you look at any October, and you’ll find some horrors storming the box office (regardless of quality).

Horror films are a safe financial bet – it’s essentially the only genre that doesn’t require big-name actors, and they are typically a lot cheaper to make than any other genre. The director of FrightFest, Alan Jones, said of Blumhouse (a key horror production company): “Their canny business model of low budget and high talent means [their films] are always going to make money.” Look at the costs – Halloween had a budget of $10 million, a quarter of its rivals A Star Is Born and a tenth that of Venom.

Exorcise that 

One horror staple is that of the exorcism, and it’s still an ongoing practice – a number of European countries, including France and the UK, are seeing a boom in popularity (despite a general decline in religious belief). The Church still identifies cases of genuine demonic possession and deals with them itself (to an extent – a lot of its exorcist priests are inactive), but that leaves a huge demand for private exorcism ceremonies.In France, private operators can make anywhere in the region of €900-1500 per ceremony for exorcising individuals, or releasing bad spirits from property (apparently, Paris, Lyon and the French Riviera are the areas most contaminated by bad spirits). There is also a rising service in helping businesses that have been blighted by black magic, with one practitioner saying that his business generates €12,000 a month before tax.

The Americans also have a demand for exorcism, but it’s a slightly different format. For a ‘’suggested donation’ of $295, you can get a one-hour Skype exorcism session with Bob Larson, who has more than 20,000 exorcisms to his name over the past 30 years. On his website, you can also purchase some handy items from his online store, including a ‘Am I possessed?’ test ($9.95), a video on performing exorcisms ($44.95) or a ‘Cross of Deliverance’, which can help you defeat demons (for only $100).