Why are the Duffer Brothers leaving Netlfix?

Matt and Ross Duffer, the creative duo behind Netflix’s Stranger Things, are making a major industry shift. The brothers have officially signed a four-year exclusive deal with Paramount, marking their exit from Netflix in April 2026. The agreement covers films, television, and streaming projects, with a particular focus on ‘ambitious’ and ‘large-scale theatrical films.’

Future projects will be developed under their production banner, Upside Down Pictures, which they run alongside producing partner Hilary Leavitt. In a joint statement, the Duffers expressed enthusiasm about joining Paramount, calling it the “fulfillment of a lifelong dream” and emphasizing the studio’s Hollywood legacy. They also noted their excitement about reuniting with Cindy Holland and Matt Thunell, executives who first championed Stranger Things at Netflix nearly a decade ago.

At Paramount, the brothers will collaborate with Josh Greenstein and Dana Goldberg, senior creative leaders overseeing both film and television. Their signing comes in the wake of Paramount’s $8 billion merger with Skydance and aligns with CEO David Ellison’s vision of positioning the studio as a top destination for major filmmakers.

Paramount executives praised the Duffers’ cultural impact and storytelling ability. Cindy Holland, now head of streaming at Paramount, highlighted her long history with the brothers, while Goldberg and Greenstein called the partnership an example of the “new Paramount in action.”

The deal does not sever ties with Netflix immediately. The Duffers remain committed to finishing Stranger Things’ fifth and final season, along with other projects currently in development, including Something Very Bad Is Going to Happen and The Boroughs. They also teased that more stories set within the Stranger Things universe are on the horizon.

In their farewell note to Netflix, the brothers described their time at the streamer as “incredible” and praised executives Ted Sarandos, Bela Bajaria, and Peter Friedlander for providing “the kind of creative freedom and support that artists dream of.”

With Stranger Things approaching its conclusion, the Duffers’ move signals both an ending and a new beginning. As they step into Paramount’s ecosystem, all eyes will be on what kind of stories the duo creates when they expand beyond Hawkins.