Matt and Ross Duffer, the duo behind Netflix’s global hit Stranger Things, have signed an exclusive four-year agreement with Paramount, which recently merged with Skydance. The deal spans feature films, television, and streaming projects, though financial details were not disclosed.
The arrangement will begin when the brothers’ current contract with Netflix expires in April 2026. At that point, their company Upside Down Pictures — run alongside producing partner Hilary Leavitt — will start developing new projects across Paramount Pictures, Paramount Television, and Paramount’s streaming platforms.
“We couldn’t be more excited to join the Paramount family,” the Duffers said in a joint statement, adding that creating bold original films for the big screen “is the realization of a lifelong dream.”
The Duffer Brothers are preparing to close out Stranger Things with its fifth and final season, set to debut on Netflix later this year. They will continue working with the streamer on two additional projects, Something Very Bad Is Going to Happen and The Boroughs, while also expanding the Stranger Things franchise.
Before their breakout success, the pair directed the 2015 thriller Hidden and contributed to the Fox drama Wayward Pines.
The Paramount agreement comes shortly after the studio’s merger with Skydance. CEO David Ellison recently told employees the company is focused on “high-quality storytelling and cutting-edge technology” as it builds toward “the next era of entertainment.”
