The Duffer Brothers Exit Netflix, Score a Massive Paramount Deal — Can They Deliver Outside of ‘Strange Things’?

I’m highly skeptical these guys have the goods — outside the Stranger Things bubble, they’ve never proved they can deliver.

Paramount is going all-in on deals post-Skydance, and their next big swing is “Stranger Things” creators Matt and Ross Duffer. The trades are hearing the duo are in advanced talks for a massive overall pact that would cover both streaming and theatrical films — something Netflix never let them do. The deal isn’t signed yet, but insiders say it’s “huge.”

The timing? “Stranger Things” is about to wrap after Season 5, leaving the Duffers without their beloved IP for the first time in nearly a decade. It doesn’t help that, and I can’t be alone in thinking this, despite its lasting popularity, “Stranger Things” peaked early and became less consistent after the second season.

And that’s where the Russo brothers comparison starts to come in: two filmmakers who became household names off one giant hit (“Avengers: Endgame” for the Russos, “Stranger Things” for the Duffers) and then, once freed from the safety net of IP, proceeded to deliver a string of forgettable and expensive movies (“Cherry,” “The Gray Man,” “Citadel”).

Yes, the Duffers have their own production company, Upside Down Pictures, and they’ve kept busy at Netflix with “The Boroughs,” the animated Tales from ’85, and a live-action “Stranger Things” spinoff — but those are still under the safety net of the “Stranger Things” brand. Outside that universe? Totally untested.

The only other directing gigs The Duffers have had is the decently reviewed 2015 indie horror “Hidden,” and writing a handful of episodes for Fox series “Wayward Pines.” That’s it.

Paramount clearly hopes reuniting the brothers with former Netflix champions Cindy Holland and Matt Thunell will recapture the cultural success of their Netflix glory, but it’s worth remembering: lightning doesn’t always strike twice, and blockbuster-sized overall deals can sometimes turn into costly exercises in creative drift.

In other words, this could be the next great Paramount coup, or it could be another reminder that Hollywood loves betting the farm on potential one-hit wonders.