Not so much a franchise or product as a pastime: Terrible Movie Nights.
A semi-frequent occurrence with my friends, we get together and watch awful movies and make fun of them. The concept is by no means new, but I wanted to throw my recommendation behind it.
Among other things, Terrible Movie Nights are a treasure trove of good times and inside jokes. You can make a party of it if you want.
Personally, I recommend the following setup:
Two bombardiers--those who notice every little thing that sucks about the movie, and are quick to point it out.
One snarker, who is more sarcastic about it.
Someone who laughs at everything.
Someone else who keeps the group grounded and focused on the movie.
Yes, I analyzed it. That's what I do. This is the setup our group follows. Of course, it helps if all the invitees have a good sense of humor.
Of course, this isn't to encourage selective inviting policies. Any group of friends will have a great time.
Some movies to watch:
A Troll in Central Park
Troll 2 (not related to A Troll in Central Park)
Batman: The Movie
Batman and Robin
Anything by The Asylum (Megashark vs. Giant Octopus, Moby Dick: 2010, Sharktopus)
Any really old, low-budget horror film (you can find collections of them really cheap at big box outlets near Halloween)
So... have fun.