The new Paramount owned by Skydance has made it official that Stranger Things architects, the Duffer brothers and their Upside Down Pictures label, are officially coming over to the Melrose Ave lot in a wide-ranging four-year, exclusive deal for feature films, television, and streaming projects. We told you about the new big deal for the David Ellison led Paramount last week.
The big plus here for the Duffers is that now they now get to make movies for the big screen.
Their new deal at Paramount starts at the end of their current deal with Netflix in April 2026. At the end of their Netflix deal, the Duffers will remain involved in Stranger Things and other existing projects in development at the OTT service.
The multi-Emmy nominated Duffers will write, direct, and produce feature films, TV, and original series for Paramount Pictures, Paramount Television, and Paramount Direct-to-Consumer. Their Upside Down Pictures production company is led by producing partner and president, Hilary Leavitt. It’s no coincidence that the first big deal under the David Ellison led Paramount is with the Duffers as the duo have worked with Cindy Holland, Paramount’s Chair of Direct-to-Consumer and Matt Thunell, President of Paramount Television, at Netflix.
Said Matt and Ross Duffer: “We couldn’t be more thrilled to be joining the Paramount family. David, Josh, and Dana 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. And 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.”
“Our time at Netflix has been incredible. Ted, Bela, and Peter 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,” the brothers added.
“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,” said Cindy Holland, Paramount’s Chair of Direct-to-Consumer. “We couldn’t be more excited to reunite and welcome them to Paramount.”
“We are thrilled that the incomparable Duffer Brothers are joining our Paramount family,” said 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. “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.”
New Paramount Motion Picture heads Dana Goldberg and Josh Greenstein told the press last week that there are plans for 15 to 20 movies to be released annually. Paramount already has production pacts with such talent as Ryan Reynolds, John Krasinski, Damien Chazelle, Temple Hill and Walter Hamada’s genre studio 18hz.