‘Stranger Things’ Creators Join Paramount in Major Studio Move

It hasn’t been more than a couple weeks since Skydance closed their deal for Paramount Pictures and already the new studio conglomerate is making waves in town. There had been rumblings of a big deal to pull Matt and Ross Duffer (Stranger Things) away from Netflix and now their new deal with Paramount has been finalized.

After their current pact with Netflix ends in April 2026, the Duffer brothers will be locked into a 4-year deal at Paramount that includes writing and directing feature films, television, original series, Paramount Television, and Paramount Direct-to-Consumer material. The Duffers will be bringing along their production company, Upside Down Pictures over to the backlot on Melrose Ave.

It’s not entirely surprising to insiders, given that the Duffer Brothers’ Netflix deal is set to expire in April—and considering the existing relationships their Upside Down Pictures president, Hilary Levitt, has with Paramount’s new Chair of Direct-to-Consumer, Cindy Holland, and Paramount Television President, Matt Thunell, from their shared time at Netflix.

New Paramount executives Dana Goldberg and Josh Greenstein announced that they have plans to release 15 to 20 movies annually, and they already have production pacts with heavy-hitting talent like Damien Chazelle, John Krasinski, and Ryan Reynolds. With the signing of the Duffers, it’s clear that new studio heads are trying to put their money where their mouth is.

In regard to their new deal, Matt and Ross said, “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. 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.”

“I’ve had the privilege of knowing Matt and Ross for over a decade and worked with them from their earliest stages through their deserving global success. We have seen firsthand their extraordinary creative vision and exceptional gift for storytelling,” said Cindy Holland, Paramount’s Chair of Direct-to-Consumer. “We couldn’t be more excited to reunite and welcome them to Paramount.”

It didn’t take long for the new regime at Paramount to make a splash. We’ll have to wait and see what this 4-year deal produces.

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