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Report: 'Stranger Things' Final Season Costs $50–$60 Million Per Episode

Industry reporting points to a cinematic-scale sendoff featuring movie-length episodes.

Overview

  • Puck’s Kim Masters is cited across outlets for the budget figures, while Netflix has not confirmed specific costs.
  • The eight-episode run is estimated at $400–$480 million in total, placing it among the most expensive TV seasons ever and comparable to The Lord of the Rings: The Rings of Power.
  • Season 5’s reported per-episode spend roughly doubles Season 4’s ~$30 million figure despite one fewer episode.
  • Each chapter is reportedly feature-length, with runtimes between 90 minutes and two hours.
  • Netflix will release the finale in three volumes: Episodes 1–4 on November 26, Episodes 5–7 on December 25, and the final episode on December 31, 2025.