Paramount and its parent company Skydance announced this on Monday, just five days after news broke that the brothers were considering leaving Netflix, where they created the hit show *Stranger Things*.
The Duffers have signed an exclusive, four-year deal with Paramount that covers films, TV, and streaming projects, with the main goal of focusing on making big, theatrical movies. They will join Paramount after finishing their current deal with Netflix in April 2026.
Getting the Duffers is a big win for new CEO David Ellison and his team, who promised to make Paramount the top place for the world’s top artists and filmmakers.
(Paramount is also talking with Legendary Pictures about a film deal, has bought the rights to UFC, and beat out other companies for a movie project featuring Timothée Chalamet and director James Mangold.)
The Duffers will work on their projects under their Upside Down Pictures banner, led by president Hilary Leavitt.
This deal brings them back together with Cindy Holland, who is in charge of direct-to-consumer at Paramount, and Matt Thunell, the president of Paramount TV Studios—both of whom worked with the Duffers at Netflix.
In a statement, Matt and Ross Duffer said, “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. 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.”
The chance to make theatrical films was a big reason they left Netflix.
Some *Stranger Things* episodes, especially in Season 4, had the scope and length of full movies. The final season of the series is set to premiere on November 26. The Duffers also praised Netflix, saying, “Our time at Netflix has been incredible. Ted, Bela, and Peter gave 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.”
After their Netflix deal ends, the Duffers will still be involved as executive producers for *The Boroughs*, *Something Very Bad Is Going to Happen*, and any *Stranger Things* spin-offs at Netflix.
Their focus at Paramount will be on new projects.
Cindy Holland said, “I’ve had the privilege of knowing Matt and Ross for over a decade and working with them from their earliest stages through their deserved global success.
We have seen firsthand their extraordinary creative vision and exceptional talent for storytelling. We couldn’t be more excited to reunite and welcome them to Paramount.”
Goldberg and Greenstein added, “We are thrilled that the incomparable Duffer Brothers are joining our Paramount family.
Their unique talent for creating stories and worlds that shape culture sets them apart. 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.”
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