New York (CNN Business) Michael Myers makes his return to movie theaters this weekend and with the fictional serial killer comes one of the most enduring genres of all time.

Halloween ," the eleventh film in the horror franchise, nabbed a strong $33.3 million on its opening day Friday and is expected to bring in roughly $80 million domestically this weekend for Universal. That's up from earlier projections of $60 million and could be one of the biggest openings in October's history. It would also make it the highest grossing debut for the franchise. Last year's big screen version of Stephen King's "It" opened at $123 million , for comparison.

The film, starring Jamie Lee Curtis, is a direct sequel to the 1978 version, which means it continues the original's story and ignores the other films in the series.

So why does Hollywood keep coming back to "Halloween?" It's because horror is a unique genre with broad appeal, films that are affordable to make and that are best enjoyed at brick and mortar theaters where other viewers are screaming with you in the dark. Studios benefit from the high return on investment and theaters get more foot traffic at the box office and at concession stands where they make the highest profit margins. In an age of on-demand streaming from the comfort of a living room, horror films brings people back to the theater.

"Horror really is the easiest sell," film critic Amy Nicholson told CNN Business. Nicholson is the host of The Ringer's " Halloween Unmasked ," an eight-part podcast series about the making and cultural impact of the franchise.