SpectreVision is the studio doing COLOR OUT OF SPACE, and they seem to have a taste for victuals you couldn’t raise or buy:
[Daniel] Noah and [Elijah] Wood revealed that they are in the very early stages of developing The Dunwich Horror, saying that they hope there’s “enough of an appetite for these things, and we can keep them going and make at least three of them” as they feel Lovecraft is “such an important voice in horror.”
[Richard] Stanley himself expressed interest in adapting Dunwich to us back in 2015, saying that he would “love to see the Whateley’s brought onscreen one day, as a kind of proper backwoods degenerate, Great God Pan crossed with The Texas Chainsaw family, type of way you would imagine.” He described the decision of whether to make Color Out of Space or Dunwich Horror first as “a toss up.”
Tough call. The Dunwich Horror is a more conventional story — it is, in fact, a heroic one — but The Color out of Space is easier to do without the risk of a botched CGI roll making the whole thing look cheap and silly. I was also unaware that Elijah Wood was a stone-cold Lovecraft fan. And has a taste for making movies that would make Lloyd Kaufman give an approving nod.