That low budget model is the bread and butter of the horror genre, and New Line has found recent success with it via its highly lucrative Conjuring Universe.
The Final Destination franchise was good to New Line, with five films from the first in 2000 to the last, Final Destination 5, in 2011, grossing almost $700 million worldwide on small budgets.
So New Line knows how to make horror work and is looking to bring in more of that money with a reboot of Final Destination.