‘Undertone’ Ending Explained: What Happens to the Terrified Podcaster?

Has so much time passed that we can considered Paranormal Activity something that gets thrown back to? (Don’t answer that. I may crumble into dust.) A24’s new horror film Undertone very much plays like a variant on that 2010s-era horror series. While those movies depended on grainy, realistic-looking video footage that could be studied for flickers of malevolent spirits, Undertone arguably goes even more minimal: In this audio-based horror, two podcasters start listening to a series of mysterious audio files. They fall into their prescribed podcast dynamics: Justin (Adam DiMarco, unseen in a vocal-only performance) plays up his credulousness, while Evy (Nina Kiri), one of just a few characters we see on screen, wants to debunk them as fake, or at least unscary.

But as they continue recording their episode (piecemeal, supposedly because Evy is also taking care of her dying mother), they listen ever closer and more carefully, and

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