According to Variety, brothers Matt (Hidden, Wayward Pines) and Ross Duffer (We All Fall Down, The Grounded), creators of Netflix’s Stranger Things, have officially signed a deal with Paramount and are set to exit Netflix in April 2026. The brothers will be leaving Netflix and entering a four-year exclusive deal for movies, television and streaming projects at Paramount. The agreement, which is expected to emphasize “ambitious” and “large-scale theatrical films.” Upcoming projects will be developed through their production company, Upside Down Pictures.

“We couldn’t be more thrilled to be joining the Paramount family,” Matt and Ross Duffer said in a statement via Variety. “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 Holland (Luke Cage, Daredevil) and Matt Thunell (Reacher, Foundation), 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.”

As per Variety, the move reunites the Duffers with Holland, Paramount’s new head of streaming, who greenlit Stranger Things at Netflix and Thunell, president of Paramount Television, who also worked with the brothers at the streamer. The brothers will also work with Josh Greenstein (Wonder Boys, A Civil Action) and Dana Goldberg (Star Trek Beyond, The Tomorrow War), who share film and series creative duties at Paramount.

“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 Holland via Variety. “We couldn’t be more excited to reunite and welcome them to Paramount.”

Goldberg, co-chair of Paramount Pictures and chair of Paramount Television, and Greenstein, co-chair of Paramount Pictures and vice chair of Platform, added via Variety, “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.”

“Our time at Netflix has been incredible. Ted Sarandos (Okja, Bright), Bela Bajaria (WWE Raw), and Peter Friedlander (Mission to Mars, Reindeer Games) have given us the kind of creative freedom and support that artists dream of but so rarely receive. A decade in, they are family,” the Duffers continued via Variety. “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.”