Overview

• Multiple outlets cite Puck’s Matthew Belloni saying Matt and Ross Duffer have made their choice to go to Paramount/Skydance.
• Reporting identifies the theatrical component as the dealbreaker, with Netflix resisting significant exclusive cinema windows.
• Paramount’s new leadership has publicly affirmed a full commitment to theatrical releases, contrasting with Netflix co-CEO Ted Sarandos calling theatrical an outdated concept.
• Netflix still has the Duffers’ work queued, including the final season of Stranger Things releasing in multiple parts later this year and additional series planned for 2026.
• Netflix has made selective concessions on theaters, such as a limited IMAX window for Greta Gerwig’s Narnia, but those steps reportedly did not satisfy the Duffers’ ambitions.