‘Stranger Things’ Creators in Talks to Leave Netflix for Major Paramount Deal: Here’s What It Means for the Franchise

Hollywood can be unpredictable, and sometimes big changes happen out of nowhere. One of the latest surprises is that Matt and Ross Duffer, the creators of “Stranger Things,” are in talks to move from Netflix to Paramount for a new deal.

According to reports, the Duffers could work exclusively on movies and TV shows at Paramount, focusing on big, blockbuster-style projects. This deal would also reunite them with Cindy Holland, the head of streaming at Paramount, who originally gave the green light to “Stranger Things” when it was still at Netflix.

The brothers would also collaborate with Josh Greenstein and Dana Goldberg, who oversee creative work for films and series at the studio.

Representatives for the Duffers did not comment, and a spokesperson for Paramount didn’t respond to requests for comment, according to the sources. Even if the deal goes through, the Duffers will continue working with Netflix through their production company, Upside Down Pictures.

This company, run with producing partner Hilary Leavitt, is named after the eerie alternate world in “Stranger Things.” The Duffers already have two new shows finished that will air on Netflix in 2026. One is an adventure series called “The Boroughs,” featuring Bill Pullman, Geena Davis, Alfre Woodard, and Alfred Molina.

The other is a horror-focused relationship series called “Something Very Bad Is Going to Happen” with Jennifer Jason Leigh. Fans also got a first look at the animated prequel “Stranger Things: Tales From ’85” at the Annecy Festival in June 2025. After the fifth and final season of “Stranger Things,” coming in November, the Duffers are expected to make a live-action spin-off series, though details haven’t been announced yet.

Before becoming famous, the Duffers almost didn’t make it. Their first movie, the post-apocalyptic thriller “Hidden,” was delayed for years by Warner Bros. and eventually released only on video-on-demand. But M. Night Shyamalan liked their script so much that he hired them to write for his 2015 Fox show “Wayward Pines.”

Their pilot script for “Stranger Things” was rejected by almost every network, until Shawn Levy and his company 21 Laps helped sell the show to Netflix. The first season, with the Duffers directing six of the eight episodes, became a huge hit in July 2016. It was Netflix’s first original series to become a major success without a big-name creator. The fourth season even became Netflix’s most-watched English-language series ever when it launched in 2022.

It’s unclear if the new Paramount deal will affect “Stranger Things.” But since the Duffers will still have projects with Netflix, fans can probably expect the show to continue as planned at least through the fifth season and the upcoming spin-off, according to the sources.

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