Paramount signs Duffer Brothers to major content deal
Paramount signs Duffer Brothers to major content deal
The agreement will allow the ‘Stranger Things’ creators to create TV shows and movies for Paramount for multiple years.
Who says Paramount is afraid to spend money? Despite pledges by the company to slash billions from its bottom line, Paramount’s new ownership team isn’t hesitating to attract new properties and talent to itself. As reported by Deadline, that willingness has manifested itself this week as a new content output deal with the Duffer Brothers, the creative duo behind the Netflix] smash-hit “Stranger Things.”
Key Details:
- Not sitting on their duffs: The Duffer Brothers will be able to create movies, TV shows, and streaming projects for Paramount.
- Not a long wait: The deal starts when the Duffers’ agreement with Netflix ends in 2026.
- Spend and save: Paramount has also shelled out big bucks on new deals for “South Park” and UFC fights.
The deal given to the Duffer Brothers by Paramount will allow them to craft not only streaming projects for Paramount+, but also TV shows destined for linear channels and theatrical films as well. Financial terms of the deal were not disclosed by Deadline, but it’s believed to be a very large deal.
“We couldn’t be more thrilled to be joining the Paramount family,” the Duffers said. “[Paramount executives] 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. 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] and Matt [Thunell], 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 Duffers had been tied to Netflix through a previous output deal, which will expire in 2026. Once that deal ends, the Duffers head to Paramount, but the brothers will remain involved in “Stranger Things” and other projects currently in development at Netflix after making the shift.
The deal is just the latest outlay by Paramount, which has continually discussed a need to trim $2 billion from its balance sheet. Those cuts will come in the form of layoffs and other pullbacks, but Paramount clearly isn’t afraid to spend in the midst of those layoffs.
For example, Paramount spent over $7 billion to acquire rights for UFC fights earlier this month, just days after closing its merger agreement with Skydance Media and shifting control of the company to the new team. Just before the merger closed, Paramount also gave a $1.5 billion deal to “South Park” creators Matt Stone and Trey Parker, locking up that show’s exclusive streaming rights.
The Duffer Brothers’ deal is just the latest investment by Paramount, and the company may not be done spending as it tries to set a course for itself in a constantly evolving media marketplace.
Paramount Plus
Paramount+ is a subscription video streaming service that includes on-demand access to 40,000+ TV show episodes from BET, CBS, Comedy Central, MTV, Nickelodeon, Nick Jr., and more. Get free access with a Walmart+ subscription.
Paramount+ includes “1883,” “Tulsa King,” “Star Trek: Discovery,” “SpongeBob SquarePants,” and “PAW Patrol.” Subscribers can watch the NFL, college football, The Masters, college basketball, UEFA Champions League, UEFA Europa League, Serie A, and NWSL. The service also offers the option to watch your live CBS affiliate. The upgraded ad-free package includes premium movies and shows from Showtime.