Netflix's Stranger Things Creators Duffer Brothers Exit, Ink Deal with Paramount

Netflix may lose the creators of Stranger Things, Matt and Ross Duffer, who are reportedly negotiating an exclusive deal with Paramount. The Duffers have raised their ambitions with each season of Stranger Things, expanding run times and driving costs up. They now appear eager to move into tentpole films, a category where Netflix has struggled. Netflix plans to release the final season of Stranger Things in three parts later this year, while two additional Duffer-led series are slated for 2026.

Netflix may be on the verge of losing the creators of its hit series "Stranger Things," Matt and Ross Duffer. The brothers are reportedly in advanced negotiations with Paramount for an exclusive deal, according to Variety [1] and Benzinga [2]. This move comes as the fifth and final season of "Stranger Things" is set to premiere later this year, with the series' conclusion scheduled for 2025.

The Duffer Brothers, known for their work on "Stranger Things" and other projects, have expressed interest in moving into the realm of tentpole films, a category where Netflix has faced challenges. The brothers have been expanding their ambitions with each season of "Stranger Things," increasing run times and driving up costs, with the fourth season reportedly costing around $30 million per episode [2].

Netflix, however, remains committed to the series' final season, which will be released in three parts later this year. Additionally, two more Duffer-led series, "The Boroughs" and "Something Very Bad Is Going to Happen," are slated for release in 2026 [1]. These projects will not be affected by the potential deal with Paramount, ensuring that the Duffer Brothers' work with Netflix will continue.

The potential deal with Paramount could be a significant coup for the studio, as the Duffer Brothers are considered one of Netflix's most valuable creative assets. The move would also allow the brothers to explore new aspects of filmmaking, including theatrical releases, which have been limited under their exclusive deal with Netflix.

Despite the uncertainty surrounding the Duffer Brothers' future with Netflix, the streaming giant has seen strong financial performance, with stock prices rising by 39% year-to-date as of July 2025 [2]. The company's international revenue growth, live sports expansion, and hit content like "Squid Game 3" and the final season of "Stranger Things" have contributed to this positive trend.

References:
[1] https://variety.com/2025/film/news/stranger-things-duffer-brothers-exit-netflix-paramount-deal-1236489637/
[2] https://www.benzinga.com/news/entertainment/25/08/47186326/stranger-things-creators-duffer-brothers-exit-netflix-ink-deal-with-paramount-report