Stranger Things creators sign deal with Paramount, part ways with Netflix

Stranger Things makers Matt and Ross Duffer are leaving Netflix and moving to Paramount under an exclusive deal. They have signed a four-year agreement with Paramount Global and its parent company Skydance, which will take effect after the Duffer Brothers' current Netflix contract concludes in April 2026. However, even after their Netflix contract finishes, they will oversee Stranger Things and other existing projects in development.

Stranger Things makers Matt and Ross Duffer are moving to Paramount in April 2026

“We couldn’t be more thrilled to be joining the Paramount family. David, Josh, and Dana are passionate about bringing bold, original films to the big screen. To be part of that mission is not just exciting – it’s the fulfillment of a lifelong dream. And to do so at a studio with such a storied Hollywood legacy is a privilege we don’t take lightly," the Duffer brothers said in a statement.

We’re also excited to reunite with our friends Cindy and Matt, who were among the very first to believe in us and an unusual little script we wrote that became Stranger Things. They took a chance on us in 2015, and they’re taking a chance again – we can’t wait to create new stories together.”

“Our time at Netflix has been incredible. Ted, Bela, and Peter have given us the kind of creative freedom and support that artists dream of but so rarely receive. A decade in, they are family."

"We’re excited to continue collaborating – not only on the upcoming release of Stranger Things 5, but also on shows we’re deeply proud to be producing, including Something Very Bad Is Going to Happen and The Boroughs. And we look forward to building out the future of Stranger Things together – there are many more stories to tell beyond Hawkins, and we can’t wait to share them,” the brothers added.

Cindy Holland, Paramount’s Chair of Direct-to-Consumer, said she had the privilege of working with Matt and Ross for over a decade from their earliest stages till date. 

"We couldn’t be more excited to reunite and welcome them to Paramount," she said.

Stranger Things season 5 will be split into three parts. Volume 1 will be released on November 27 and volume 2 will arrive on December 26, 2025 on Netflix.

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