midnight movie

Etymology
Originating in 1950s American television, the term has undergone several changes over time (see Wikipedia article).

Noun

 * 1)  A B-movie, often in camp style and with a retro theme.
 * 2) A low-budget film which has become a cult classic, referring in this sense to original tradition of showing such films at night.
 * 3)  A low-budget film shown on television after midnight, particularly but not exclusively in the US.