‘Stranger Things’ Creators Matt and Ross Duffer Sign Four-Year Paramount Deal, Set Netflix Exit in April 2026

The Duffer Brothers trade Hawkins for Hollywood as they prepare a bold new chapter at Paramount.

Matt and Ross Duffer, the creative minds behind Netflix’s phenomenon Stranger Things, are officially leaving their longtime streaming home. The brothers have signed a sweeping four-year exclusive deal with Paramount, beginning April 2026, that will cover theatrical films, television, and streaming projects.

The landmark agreement signals a dramatic shift for the duo, whose Upside Down Pictures banner will spearhead a new wave of “ambitious” and “large-scale” storytelling under Paramount’s umbrella. The deal reunites the Duffers with two key allies: Cindy Holland, Paramount’s head of streaming who originally greenlit Stranger Things at Netflix, and Matt Thunell, now president of Paramount Television.

The signing comes at a pivotal moment for Paramount, fresh off its $8 billion merger with Skydance and determined to position itself as a filmmaker-first studio. CEO David Ellison has prioritized high-profile creative partnerships to elevate Paramount’s global standing. Adding the Duffers—who have delivered one of Netflix’s most successful and culture-defining series—marks a major win.

Dana Goldberg and Josh Greenstein, Paramount’s top film and television executives, praised the brothers’ “extraordinary vision” and ability to “create worlds that shape culture,” noting that the partnership exemplifies the new Paramount’s cross-platform strategy.

The Duffers’ exit won’t mean the end of Stranger Things. The duo will remain deeply involved in the show’s upcoming fifth and final season and continue to shepherd spin-offs and related projects under their Netflix pact until it concludes.

“Our time at Netflix has been incredible,” they acknowledged, thanking executives Ted Sarandos, Bela Bajaria, and Peter Friedlander for a decade of creative freedom. “We’re excited to finish Stranger Things 5 and continue expanding its universe. There are many more stories to tell beyond Hawkins.”

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Alongside Stranger Things, the Duffers are currently producing Netflix series Something Very Bad Is Going to Happenand The Boroughs, ensuring a smooth transition as they prepare for their Paramount slate.

While their Netflix era cemented them as household names, Paramount offers the brothers an opportunity to expand into the kinds of big-screen storytelling that first inspired them. From sci-fi epics to large-scale thrillers, the studio is banking on the Duffers’ ability to deliver the same mix of nostalgia, suspense, and pop-culture relevance that made Stranger Things a global hit.

With this move, one of Hollywood’s most influential creative duos is about to test whether lightning can strike twice—this time on the biggest stage Paramount can provide.