"Killer Movie" succeeds because of three elements that are sorely missing for the majority of horror films these days: thrills, titillation, and wit. This is a diamond in the rough.
A long time ago in a galaxy not so far away, the slasher genre was a reliable source of entertainment. Sadly it has devolved into a breeding ground for the most shallow, talentless people in the film industry. It seems there is no room to make a movie that's actually, well, GOOD, just profitable. Every "creative" decision is borne from the desire to make money. And of course, throngs of people flock to the theaters and eat it up.
Against such a grim backdrop, it is a cause for celebration when a movie like "Killer Movie" comes out. Here's a slasher film that adheres to all of the conventions of the genre without pandering to the lowest common denominator. Horror fans will love this, and I predict it will do extremely well commercially.
The story is of personal relevance to its director (a former reality TV director), and the results are funny and scary, often at the same time. Fisher had previously worked on shows like The Simple Life and Real World, and it's easy to see how the experience affected him. I guess the best way to segue from reality TV into the film industry is to make a film about a reality TV show crew being MURDERED.
"Killer Movie" is an impressive debut, and I look forward to whatever Fisher does next.