Washington, June 6 -- Veteran filmmaker Steven Spielberg has praised the recent box office success of horror films 'Obsession' and 'Backrooms', applauding the filmmakers for achieving major theatrical results with modest budgets.

Speaking during a red carpet interview at a screening of his new film 'Disclosure Day', which premieres in theatres on June 12, the three-time Oscar winner expressed his admiration for the new generation of horror directors behind the breakout hits.

"I'm so happy for them. I think it's so fantastic," Spielberg said, adding, "I think it's great that they had basically very little money, especially Obsession had under USD 1 million, and the other film had maybe 10 or nine, and they're doing so well, and I just ap...