For me, "The Ring" was the last ghost movie Ive liked. To me they're generally the same. This one starts off really good actually and I was into it for the first Act. Emotional, the girls are creepy and great camera shots. Also Sound is topnotch, I kept looking left and right.
2nd Act gets kinda boring for me as it become cliche "find the source of the ghost and stop it". I found my self wanting to watch "13 ghosts" again and thinking that the Dr. looks like Tony Shaloub, who was in 13 ghosts. Mind Wondering, not the best thing in the theater.
3rd Act without spoilers does get a lot better. They round out the story pretty good and show plenty of "Mama" so I was satisfied with that. But ultimately its a slightly above average ghost thriller.