Recent reports indicate that the Duffer Brothers are leaving their overall deal with Netflix and are in advanced talks, if not already finalized, for a new exclusive partnership with Paramount.
According to several outlets, the Paramount deal includes the opportunity to produce theatrical feature films, something the brothers have long sought.
While the brothers were working as writers on Wayward Pines, the pilot for what would become Stranger Things got a big thumbs-down from almost every network while being shopped around town, until Shawn Levy’s 21 Laps swooped in back in 2015 and convinced Netflix to take the plunge.
Still, despite giving the brothers their big break, Hollywood is a 'what have you done for me lately' kind of town and the siblings have reportedly been swayed by the chance to transition over to blockbuster filmmaking.
Despite the shift, their company, Upside Down Pictures, is expected to continue delivering on its existing Netflix commitments.
That includes the fifth and final season of Stranger Things, the animated spinoff Stranger Things: Tales from ’85, and a planned live-action offshoot.
Additionally, per Variety, The Duffer Brothers have also finished work on two upcoming Netflix series set for 2026 premieres: the adventure series The Boroughs, which stars Bill Pullman, Geena Davis, Alfre Woodard, and Alfred Molina, and the relationship-focused horror series Something Very Bad Is Going to Happen, featuring Jennifer Jason Leigh.
The Paramount agreement is said to prioritize “tentpole movies,” aligning with the Duffers’ stated ambition to create large-scale theatrical projects.
While no titles have been officially announced, speculation ranges from fresh sci-fi and horror concepts to high-profile reboots like Jaws, G.I. Joe, or even Star Trek.
For Netflix, losing the creators of Stranger Things, arguably the streamer’s most iconic original series, is a serious setback. However, the blow is softened by the Duffers’ continued involvement in ongoing Netflix productions. Their departure underscores the challenge Netflix faces in retaining top creative talent, especially when traditional studios can offer broader opportunities.
While Netflix has experimented with limited theatrical runs for awards contenders, analysts believe this move won’t alter its core strategy. The platform remains focused on driving subscriptions, and executives argue that standard theatrical windows delay access for members, clashing with the company’s model.