The horror director revealed that he intends to take a break from films for a while after working hectic schedules for the past few years.
"I'm taking the summer off," Craven told EW.
"I directed and produced, and my wife produced, both Scream 4 and the previous film My Soul to Take, and they were both very difficult films," he explained. "So we just decided, 'You know what? We're going to spend the summer someplace nice and not think about film for a while.'"
The director also explained that a new Scream film is definitely possible if the right script is presented to him.
Harvey Weinstein recently said that he still expects work on a fifth instalment in the franchise to go ahead, despite the relatively poor box office takings for Scream 4.
Watch the trailer for Scream 4 below: