In 1930, Universal Studios had lost $2.2 million in revenues. Within 48 hours of its opening at New York's Roxy Theatre on February 12, 1931, Dracula starring Bela Lugosi had sold 50,000 tickets, building a momentum that culminated in a $700,000 profit, the largest of Universal's 1931 releases. As a result, the head of production, Carl Laemmle Jr., announced immediate plans for more horror films.
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