Director Andy Muschietti's It has crossed the $500 million mark at the worldwide box office in yet another victory for New Line and Warner Bros.

The R-rated horror film achieved the milestone less than a month into its record-shattering run. It, adapted from Stephen King's 1986 novel about a group of kids battling bullies and the demonic Pennywise the Dancing Clown, is bound to be one of the most profitable titles of 2017 after costing a modest $35 million to produce (which doesn't include marketing costs).

"Crossing $500 million is rarified air for any film, but for a horror film it is history-making, and we could not be prouder. The filmmakers and cast did more than make a box-office hit; they created a communal, must-see moviegoing event that has reverberated around the globe and is still going strong. We congratulate Andy Muschietti, the extraordinary producing team and everyone involved in It on reaching this amazing milestone," Warner Bros. president of worldwide marketing and distribution Sue Kroll said in a statement.

It is the highest grossing horror film of all time, besting the $441.3 million earned by The Exorcist (1973), not accounting for inflation. When adjusting for inflation, however, The Exorcist (1973) remains the record holder with more than $1.1 billion in global ticket sales.

Muschietti's movie is hardly done with its run and has yet to open in Germany, Italy and Japan.

Earlier this week, New Line announced that a sequel to It will hit theaters on Sept. 6, 2019.