In a twist that feels right out of their own hit series, Stranger Things creators Matt and Ross Duffer may be saying goodbye to Netflix. The brothers are in advanced talks to sign an exclusive deal with Paramount — one that would have them creating both movies and TV shows, with a focus on big-budget blockbusters.
This move would also reunite the Duffers with Cindy Holland, now Paramount’s head of streaming, who originally greenlit Stranger Things during her time at Netflix. They’d also collaborate with Paramount’s top creative executives Josh Greenstein and Dana Goldberg.
No official comments yet
Representatives for the Duffer Brothers haven’t confirmed the deal, and Paramount has yet to respond to requests for comment.
What’s next for Netflix projects?
Despite the potential Paramount deal, the Duffers aren’t cutting ties with Netflix just yet. Their production company, Upside Down Pictures, still has several projects in the works:
- The Boroughs, an adventure series starring Bill Pullman, Geena Davis, Alfre Woodard, and Alfred Molina — set to release in 2026.
- Something Very Bad Is Going to Happen, a relationship-horror series featuring Jennifer Jason Leigh — also arriving in 2026.
- An animated prequel, Stranger Things: Tales From ’85, which previewed at the 2025 Annecy Festival.
- A live-action spin-off of Stranger Things planned after the show’s fifth and final season premieres in November 2025.
From struggles to superstardom
The Duffers’ success wasn’t instant. Their first film, Hidden, sat unreleased for years before quietly landing on VOD. But M. Night Shyamalan saw potential in them, hiring the pair to write for his series Wayward Pines.
Their pilot for Stranger Things was rejected by nearly every network until Shawn Levy’s 21 Laps stepped in and pitched it to Netflix. The series became an instant hit when Season 1 debuted in July 2016, and Season 4 shattered records in 2022, becoming Netflix’s most-watched English-language show ever.
If the Paramount deal goes through, it will mark a major shift for the Duffers — and could reshape the future of blockbuster storytelling on both the big and small screens.
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