Executive producers are like managers of the whole project, and at the same time they are involved with everything that has to do with investors. So you're right saying they have got more to do with the financial side of things, but when you read that something got such and such film producer involved it generally means that they believe in the project thus their past projects sort of speak of their taste, and as such serve as hints as to what to expect from the project taste wise and genre wise.

Thank you for the review, this indeed sounds like a rehash of those old ideas enveloped in The Ring and The Grudge.