Honestly, nobody really expected a sequel to The Black Phone. The first movie ended with a pretty definitive snap of a neck, after all. But here we are in 2026, and The Black Phone 2 has officially finished its theatrical run, leaving a trail of mixed reviews, massive box office numbers, and a very confused audience trying to figure out how a dead serial killer is suddenly haunting dreams like he’s the new Freddy Krueger.
It's wild.
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If you missed the October 2025 release in theaters, you’re probably looking for it online right now. The good news is that the wait is basically over. Universal and Blumhouse have finally slapped a digital date on this thing, and it's hitting streaming much sooner than people thought.
When and Where Can You Watch The Black Phone 2?
If you want to watch the sequel from your couch, mark January 16, 2026, on your calendar. That is when The Black Phone 2 officially lands on Peacock.
It’s been a fairly standard rollout for a Blumhouse hit. The movie dropped in theaters on October 17, 2025—just in time for the Halloween rush—and then moved to digital VOD (the kind where you pay 20 bucks to rent it) by early November. Now, 91 days after its premiere, it’s becoming part of the regular streaming library.
Wait, How is Ethan Hawke Still in This?
This is the question everyone kept asking during production. Scott Derrickson, the director, was pretty tight-lipped about it for a long time. We saw the Grabber die. Finney Blake literally used the cord of the black phone to finish him off.
But The Black Phone 2 leans hard into the supernatural.
It’s set in 1982, four years after the events of the first film. Finney is 17 now. He’s a high schooler dealing with some serious PTSD and, let’s be real, a bit of a weed habit to numb the trauma. Meanwhile, his sister Gwen is the one actually driving the story this time. Her psychic dreams haven’t stopped; they’ve just gotten weirder.
The Grabber returns as a "dream-realm" entity. He’s not physically back from the dead in a "zombie" sense, but he’s haunting Gwen’s visions and targeting a new group of kids at a place called Alpine Lake Camp. It’s a huge tonal shift. While the first movie felt like a gritty 70s crime thriller with a ghost twist, the sequel is full-blown 80s supernatural horror. Think Dream Warriors vibes.
The Returning Cast and New Faces
One thing the sequel got right was bringing back the original chemistry. It’s rare to get the whole gang back for a horror follow-up.
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- Mason Thames as Finney: He’s older, angrier, and definitely not the scared kid in the basement anymore.
- Madeleine McGraw as Gwen: She’s the MVP of this movie. Her journey to Alpine Lake is the backbone of the plot.
- Ethan Hawke: He’s back behind the mask, but the mask is... different. It feels more demonic, less "eccentric magician."
- Demián Bichir: A great addition as Armando, the camp supervisor who knows more than he’s letting on.
What Actually Happens at Alpine Lake?
The plot kicks off when Gwen starts seeing three boys being stalked at a winter camp. One of those boys is Ernesto, the brother of Robin Arellano (Finney’s friend from the first movie who didn't make it).
The kids end up trapped at the camp during a massive blizzard. It’s a classic horror setup, but the "black phone" mechanic returns in a clever way. There’s a dead payphone at the camp, and Finney starts getting calls on it again. Only this time, it’s not the victims on the other end. It’s the Grabber himself, calling from whatever hell he’s currently inhabiting to promise revenge.
The climax involves a pretty intense battle on a frozen lake. It’s easily the most visually striking part of the film. Without spoiling the very end, let's just say the movie explores the idea that the Grabber's power comes from the bodies of his victims that were never found. To stop him, the kids have to literally uncover the past.
Why Some Fans are Annoyed
Look, the movie is a hit—it made over $132 million worldwide against a $30 million budget—but it’s divisive.
Some critics, like those at The Playlist, praised it for being a "smart sequel" that deepens the lore. Others on Reddit and Letterboxd have complained that it feels too much like a "pious" religious horror movie. There’s a heavy emphasis on Gwen’s prayers and the concept of a literal Hell that didn't really exist in the first film.
It’s definitely "busier" than the original. The first movie was a masterpiece of simplicity: one room, one kid, one phone. This one has multiple locations, a larger cast, and a lot of lore about Gwen and Finney’s mother.
Is There Going to be a Black Phone 3?
Blumhouse loves a trilogy.
The ending of The Black Phone 2 doesn't exactly scream "series over." While the Grabber gets dragged under the ice, the movie establishes that the dream realm is a vast place. There are already theories floating around that a third film could follow the Grabber into Hell or fast-forward even further to when Finney and Gwen have their own families.
Scott Derrickson has mentioned in interviews that the idea for the sequel actually came from Joe Hill (Stephen King’s son, who wrote the original short story). Hill apparently had a "wonderful idea" that made Derrickson want to return. If they have another "wonderful idea" for a third one, you can bet Universal will greenlight it in a heartbeat.
What to do Before You Stream
If you’re planning a watch party for the Peacock release, here is the best way to prep:
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- Rewatch the 2021 original: The sequel relies heavily on your emotional connection to Robin and the other "ghost kids." If you don't remember their names, the stakes in the sequel won't hit as hard.
- Check out "Dreamkill": This is a short film Derrickson released as part of V/H/S/85. It’s officially in-canon and acts as a sort of bridge for the "psychic visions" logic used in the sequel.
- Lower your expectations for "Realism": The first movie felt like it could almost happen in real life (supernatural elements aside). This one is a dark fantasy. Go in expecting ghosts and demons, not a police procedural.
The transition from a basement thriller to a camp-slasher-dream-heist is jarring, but honestly, it's better than just repeating the same story.
Actionable Insights:
- Streaming Date: January 16, 2026.
- Platform: Peacock (US).
- Digital Purchase: Available now on platforms like Amazon and Apple TV if you don't want to wait for the subscription model.
- Parents Note: It’s rated R for a reason—the violence is a step up from the first one, especially during the Alpine Lake sequences.