Commercial success, good reviews, and yet no sequel?

How come this movie never went the path of Conjuring and Insidious franchises? It made $45 million on a $5 million budget, gained 75% on Rotten Tomatoes, which is a lot for a horror flick, and yet no one thought of furthering the story. The movie has all the ingredient for a movie series; A clear set of rules, well defined sinister forces that could work in a whole range of settings. Each installment could cover different owners of the mirror, perhaps go back in time and tell their story, hopefully each time with a fresh look. What a lost opportunity in my opinion, with sequels nowadays being made after underwhelming originals, Oculus series could have actually worked. But alas, long time has passed since 2013, so I'm not particularly hopeful.