Craven filmed "A Nightmare on Elm Street" on an estimated budget of $1.1 million. The film was released on November 9, 1984, and grossed $57 million worldwide. "A Nightmare on Elm Street" was met with rave critical reviews and is considered to be one of the greatest horror films ever made, spawning a franchise consisting of six sequels, a television series, a crossover with "Friday the 13th", and various other merchandise. A remake of the same name was released in 2010, and, aside from "Stunts", "Polyester", and "Alone in the Dark", it was one of the first films produced by New Line Cinema, who by that point mostly distributed films, leading the company to become a successful film studio up till 2008 and was even nicknamed "The House that Freddy Built".