Stephen King's 'IT' dethrones 'The Exorcist' to become highest-grossing horror film ever

Stephen King's IT has broken The Exorcist's record of being the highest-grossing horror film ever.

According to a report in The Guardian, The Exorcist held the record for 44-years until IT minted more than $500 million at the global box office. The Exorcist now stands at second spot with $441 million in total collection.

"Crossing $500m is rarified air for any film, but for a horror film it is history-making, and we could not be prouder,” Sue Kroll, president of worldwide marketing and distribution at Warner Bros told Variety.

New Line Cinema and Warner Bros. announced that a sequel to the horror blockbuster will hit theatres on September 6, 2019.

Gary Dauberman, who co-wrote the first film, is close to closing a deal to pen the sequel, and director Andy Muschietti is also expected to return.

The second half of Stephen King's novel focuses on the Loser's Club, 27 years later, when they've grown up and are away. But then a devastating phone call brings them back.