Paramount Skydance Signs ‘Stranger Things’ Creators to Four-Year Exclusive Deal

Paramount Skydance has secured Matt and Ross Duffer, the creators of Netflix’s hit series “Stranger Things,” in an exclusive four-year agreement covering feature films, television and streaming projects. The pact takes effect after the siblings’ existing contract with Netflix expires in April 2026; financial terms were not disclosed. Working through their production banner Upside Down Pictures, the Duffer Brothers will focus on developing large-scale theatrical releases alongside other content for the combined studio’s platforms. In a joint statement, they said joining Paramount fulfills a lifelong ambition to bring original films to the big screen. The signing is the first high-profile talent deal since Paramount completed its merger with Skydance earlier this month. Chief Executive Officer David Ellison has pledged sizeable investment in storytelling and technology as the company seeks to reposition itself in a consolidating entertainment landscape. Until their Netflix tenure concludes, the Duffers remain engaged on the fifth and final season of “Stranger Things,” expected later this year, and on two other Netflix projects, “Something Very Bad Is Going to Happen” and “The Boroughs.”