Nightmare on Elm Street did not start off as a mainstream film. It just happened. It started off in only a few theaters (just over 100) and then just sort of built itself. It was an independent film that no company would really fund (Paramount for example turned it down) so the creators just made it and released it on their own. It turned into a huge success and it's legs were just insane. I think it made like 20 something times it's opening weekend which is just amazing even for then when legs were much better than now. Didnt start that way. It was very much an Independent project.
It's what started New Line as a company. The Ninja Turtles built them up after that. Lord of the Rings turned of course made them ultra rich after that.
Like Halloween, I would consider it an Independent film.
Now, if they were showing Nightmare on Elm Street 2 or Halloween 6 for example, I could understand. None of the sequels were independent projects because they all had some form of studio funding.
I knew American Movie Classics went down the gutter the day Halloween 5 aired.
Is Halloween 5 below average? Yes. Is it the worst movie ever? No. Not with Full Moon studios around. Is it an American Movie Classic? No.