Duffer Brothers' New Paramount Film
Duffer Brothers' first Paramount 'event film' scheduled for November 2028 release
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Variety reports the project is being developed by Upside Down Pictures, which the Duffer brothers lead “alongside” producing partner and company president Hilary Leavitt—an additional detail on who will be driving the film’s production at Paramount.
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In their statement about joining Paramount, Matt and Ross Duffer said, “We couldn’t be more thrilled to be joining the Paramount family… To be part of that mission is not just exciting — it’s the fulfillment of a lifelong dream,” and noted Paramount executives Cindy Holland and Matt Thunell “took a chance on us in 2015… and they’re taking a chance again.”
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Deadline ties Paramount’s post-merger strategy under David Ellison to other recent culture-talent signings, citing deals for director James Mangold (High Side), Will Smith and his Westbrook banner, and Wicked’s Jon M. Chu.
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Deadline provides a post-Netflix timeline for the Duffers: they wrapped “the fifth and final season” of Stranger Things on New Year’s Eve 2025, then moved on to the animated “Stranger Things: Tales from ’85,” plus Netflix series they exec produced—“Something Very Bad Is Going to Happen” and “The Boroughs”—and notes their Netflix deal “expired in April.”
Paramount Pictures has set November 3, 2028 as the wide theatrical release date for an untitled event film written and directed by Matt and Ross Duffer, the creators of Stranger Things. The project, developed under their Upside Down Pictures banner, will be their first feature film, Variety reported.
The announcement marks a clean break from Netflix, where the Duffers spent a decade building one of streaming's biggest franchises. Their Netflix deal expired in April 2026, and they have since signed a four-year exclusive pact with Paramount.
Duffers Leave Netflix After Wrapping Stranger Things Season 5
Production on the fifth and final season of Stranger Things wrapped on December 31, 2025, according to Deadline. The Duffers then oversaw several remaining Netflix projects before their deal expired. Those included the animated spinoff Stranger Things: Tales from '85, the psychological horror series Something Very Bad Is Going to Happen, and the sci-fi series The Boroughs.
In their statement about the Paramount deal, Matt and Ross Duffer said, "We couldn't be more thrilled to be joining the Paramount family." They described the move as "the fulfillment of a lifelong dream." Their Netflix exit signals a broader shift: prestige TV creators are now chasing the big screen, not streaming exclusivity.
Old Netflix Allies Now Lead the Charge at Paramount
The Duffers are reuniting with two executives who first bet on Stranger Things back in 2015. Cindy Holland, now Chair of Direct-to-Consumer at Paramount, and Matt Thunell, now President of Paramount Television Studios, both championed the show at Netflix before moving to the studio, according to Variety.
The brothers acknowledged the significance of that bond. "They took a chance on us in 2015," they said, "and they're taking a chance again." Hilary Leavitt, president of Upside Down Pictures, will drive production on the film alongside the Duffers as their producing partner, Variety reported.
Paramount Bets on Culture-Shaping Talent Under David Ellison
The Duffer deal is part of a larger strategy by CEO David Ellison to make Paramount the go-to studio for top creative talent. Deadline tied the signing to other recent deals, including one with director James Mangold for a film called High Side, a pact with Will Smith and his Westbrook banner, and a deal with Wicked director Jon M. Chu.
Ellison's push comes after Paramount's $8.4 billion merger with Skydance, finalized in August 2025. The studio restructured into three units: Studios, Direct-to-Consumer, and Television Media. Paramount aims to grow its release slate to 15–20 films per year under the new leadership, according to Variety.
'Event Film' Label Sets High Box-Office Expectations for 2028
Calling the project an "event film" is a deliberate signal. It means Paramount plans to treat this like a tentpole — the kind of wide release that drives people to buy tickets before reviews even land. The November 3, 2028 date puts it squarely in the holiday-season window, a slot typically reserved for prestige blockbusters, Nerdist noted.
The Duffers have already shown their audience will show up at theaters. The Stranger Things Season 5 finale had a theatrical component that proved their fanbase extends beyond the couch. Paramount is betting that same pull — built over a decade of high-stakes seasonal storytelling — can launch a brand-new franchise on the big screen.
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