In time for Halloween, Blumhouse Productions announced the coming of Insidious 5. The studio is now developing the fifth installment to the franchise with the lead star, Patrick Wilson, as the director.

Besides helming Insidious 5, Wilson will continue to play the role of the haunted Josh Lambert in the movie. In a statement via Devdiscourse, the 47-year-old actor said he's both "honored and thrilled" to helm the next Insidious film.

Being the film's director is a "full circle moment" for The Conjuring star both professionally and personally. He is extremely grateful for the trust to continue telling the "frightening and haunting story" of the franchise.

The upcoming film will continue the story left by the fourth movie, Insidious: The Last Key. Here, Lambert's son, Dalton (Ty Simpkins), will go to college.

Wilson also said fans are about to see everything his character has been through in the past decade. It will also reveal the repercussions of his choices.

Scott Teems writes the new movie's script, based on the story by the franchise co-creator, Leigh Whannell, Deadline noted. The movie series itself is co-created by Whannell and James Wan, who will also produce the Insidious 5 together with Jason Blum for Blumhouse, along with Oren Peli.

Brian Kavanaugh-Jones and Steven Schneider will be its executive producers, while Sony Pictures will distribute the movie globally, per Variety.

Talking about the movie series' success, Blum said one of the main reasons fans' interest and appetite for the movie lasted is that the original cast and crew remain involved throughout the franchise. They also stay to be an essential part of the previous and new films.

The first two Insidious films told the story of a young couple, whose son was possessed by entities from another dimension. The third movie featured the events before the original series, while the fourth film was a follow-up to the prequel.

The four films experienced commercial success, earning a whopping $539 million all over the world with a combined budget of only $26.5 million.

Aside from Wilson and Simpkins, Rose Byrne will also return to reprise her role as Dalton's mom and Josh's wife, Renai Lambert. Insidious 5 is set to be out in 2022. A confirmed release date has yet to be announced.

Are you now excited to see the continuation of Josh's story in Insidious 5? What do you think will happen here? Share your comments below.