In July, The Hollywood Reporter reported that Paramount Pictures had officially announced a reboot of the 1984 classic A Nightmare on Elm Street.“Paramount Pictures has closed a deal for the U.S. rights to the original screenplay of A Nightmare on Elm Street, the movie written and directed by Wes Craven that kicked off the popular horror franchise featuring the killer with the metal-claw gloved hand and burned face, and will adapt it into a new feature,” the outlet wrote.Credit: New Line Cinema“The new Nightmare on Elm Street will hail from Paramount’s new genre label, Paramount Primal, led by J.D. Lifshitz and Raphael Margules, the producers behind films such as Barbarian and Friendship,” it continued. “The U.S. rights are being licensed from the Craven estate, which includes Craven’s widow Iya Labunka and Craven’s son Jonathan Craven. The duo will produce the new iteration with Marc Toberoff, the attorney-turned-producer who specializes in copyright law. Lifshitz and Margules will executive produce for Paramount Primal.”Labunka said in a statement:“We look forward to bringing the world of Wes Craven’s Nightmare on Elm Street to a new and completely engaged generation of fans. We know that Wes would have been thrilled to see how horror is taking its long overdue place in the cultural canon. We can’t wait for all of us to sit together in a dark theater – around the campfire of today – as the next chapter of the Nightmare story unfolds.”News of a new Nightmare is a dream come true for fans, who have been waiting for another film since Jackie Earle Haley took up the mantle of “dream demon” in the 2010 film, after Robert Englund had played the character in eight Elm Street films and the mostly forgotten TV series.Now, an impressive fanmade trailer is circulating online. YouTube channel Wilson Cleveland, known for such trailers, has put out a rather convincing teaser for the upcoming Elm Street film, suggesting a legacy sequel of sorts, with footage from several sequels in the franchise, while a spine-tingling narration from the dream demon himself and Michael Jackson’s “Thriller” plays.Related: How To Watch the ‘Elm Street’ Movies, Including the Reboot and TV SeriesThe idea that the Elm Street reboot could be a legacy sequel is certainly an interesting conversation point. Although that concept feels at odds with the fact that the new film is confirmed be “set in the world of A Nightmare on Elm Street, based on the original screenplay.”It also leaves us wondering whether the film should return to the franchise’s darker roots or embrace the campiness of later sequels.Directed by Wes Craven, the original 1984 film spawned a multimedia franchise, including sequels, spinoffs, crossovers, the television series, the 2010 reboot, novels, and comic books.The reboot, A Nightmare on Elm Street (2010), produced by New Line Cinema and Platinum Dunes and distributed by Warner Bros. Pictures, was a box-office success, grossing $117.7 million worldwide against its $35 million budget. However, it was critically panned and largely rejected by audiences for failing to live up to the original 1984 film.The rights to A Nightmare on Elm Street were previously held by New Line Cinema, which became part of Warner Bros. following its acquisition in 2008.Credit: Platinum Dunes / New Line CinemaWho Will Play Freddy Krueger in the New Elm Street Movie?Robert Englund’s return can be ruled out. While he reprised his role as Freddy Krueger in a fun Halloween special of the ’80s-set series The Goldbergs, he told Variety in 2023 that he’s “too old and thick to play Freddy” and “can’t do fight scenes for more than one take anymore,” adding that he has a “bad neck and bad back,” as well as having arthritis in his right wrist.However, he told ComicBook.com in 2024 that he would be open to voicing the character in an animated reboot, should such a project ever come to light.Jackie Earle Haley is unlikely to reprise his role, as Paramount is seemingly looking to create a fresh adaptation that has ties to the original Elm Street while appealing to modern cinemagoers.There’s no release date for the A Nightmare on Elm Street reboot.Who do you think should play Freddy Krueger in the new Elm Street movie? What do you think of the new fanmade trailer? Let us know in the comments below!The post ‘Elm Street’ Reboot Gets First Trailer Following Paramount Announcement appeared first on Inside the Magic.