Guillermo del Toro Signs New Film Label Deal With Fox Searchlight

Horror films have always played a vital part of cinema, with Nosferatu and a slew of monster movies from Universal Studios helping introduce audiences to various terrors in the '20s and '30s. The genre proved as effective as ever in 2017, with The Shape of Water and Get Out becoming some of the most widely-praised films of the year. In response to that success, Shape of Water director Guillermo del Toro will be developing a new label for horror and sci-fi films with Fox Searchlight.

Del Toro signed the deal that will allow him to write, produce, and sometimes direct a variety of sci-fi and horror projects. Additionally, del Toro's new label will allow him to find and develop a number of horror, sci-fi, and fantasy projects that will be financed by Fox Searchlight.

"For the longest time, I've hoped to find an environment in which I can distribute, nurture and produce new voices in smart, inventive genre films and channel my own," del Toro shared in a statement. "In Fox Searchlight, I've found a real home for live-action production — a partnership based on hard work, understanding of each other and, above all, faith. After the wonderful experience I had with Fox Searchlight onThe Shape of Water, I am honored to have the opportunity to continue the relationship. I am more than grateful to Nancy [Utley], Steve [Gilula], David [Greenbaum], and Matthew [Greenfield] for their trust in me and for joining me on this adventure."

The Shape of Water took home Best Picture and Best Director at this year's Academy Awards, while Jordan Peele took home the award for Best Original Screenplay for Get Out, with both films earning a variety of other nominations. The genre is often dismissed by awards organizations, though this year's offerings made the power of the genre tough to ignore.

After films like Pan's Labyrinth, The Devil's Backbone, and Crimson Peak, fans of del Toro knew it was only a matter of time before his brilliance was recognized.

"Throughout the process of The Shape of Water coming to life, we have observed first-hand Guillermo at work as a director, a writer, a producer — a creator," Utley and Gilula confirmed. "We believe in him and the vision for a new Searchlight label and we are eager to embark on this journey with him."

Greenbaum and Greenfield added, "As well as being a brilliant filmmaker, Guillermo is a passionate collaborator, curator, and advocate for other artists. Working with him on this new label, focused on the highest quality projects in the genre space, allows Searchlight to expand our reach to new filmmakers and new audiences around the world."

Are you glad to see genre cinema finally earning the respect it deserves? Let us know in the comments below!

[H/T Deadline]