Paramount has secured its first major talent deal under new ownership, officially bringing Stranger Things creators Matt and Ross Duffer to the studio.
The brothers have signed an exclusive four-year agreement covering film, television, and streaming projects. The partnership, announced Monday by Paramount and parent company Skydance, emphasizes large-scale theatrical films, with the Duffers set to join the studio after their current Netflix contract ends in April 2026.
The move follows reports last week that the Duffers were in talks to leave Netflix, where they developed the global hit Stranger Things. Their new slate at Paramount will be developed through Upside Down Pictures, led by president Hilary Leavitt. The deal reunites them with Cindy Holland, chair of direct-to-consumer at Paramount, and Paramount TV Studios president Matt Thunell, both of whom previously collaborated with the brothers at Netflix.
Landing the Duffers marks a significant win for CEO David Ellison, who has pledged to make Paramount “the No. 1 destination for the most talented artists and filmmakers in the world.” The studio is also negotiating a film output deal with Legendary Pictures, recently secured rights to UFC, and outbid competitors for High Side, a feature from Timothée Chalamet and James Mangold.
We couldn’t be more thrilled to be joining the Paramount family. David, Josh [Greenstein], and Dana [Goldberg] 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. 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.
Matt and Ross Duffer said in a statement
The chance to produce theatrical films was a key factor in their decision to leave Netflix. Several episodes of Stranger Things season four, released in 2022, had the scope and length of feature films. The show’s final season is scheduled to premiere November 26.
Our time at Netflix has been incredible. Ted [Sarandos], Bela [Bajaria], and Peter [Friedlander] 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.
In their statement, the Duffers also praised Netflix:
Even after their Netflix deal ends, the Duffers will stay involved as executive producers on The Boroughs, Something Very Bad Is Going to Happen, and any Stranger Things spinoffs. Their creative focus at Paramount, however, will be on original material.
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. We couldn’t be more excited to reunite and welcome them to Paramount.
said Holland
We are thrilled that the incomparable Duffer Brothers are joining our Paramount family. Their singular talent for creating stories and worlds that shape culture sets them apart, and this partnership is a great example of the new Paramount in action — our film, television, and streaming businesses united to offer Matt and Ross the full power of our platforms to tell their best and most ambitious stories yet.
Dana Goldberg, co-chair of Paramount Pictures and chair of Paramount Television, and Josh Greenstein, co-chair of Paramount Pictures and vice chair of platforms, added:
Source: THR
