But Paramount can offer something that Netflix can’t—or more accurately won’t—which is theatrical releases. The Duffers only have one film under their belt, 2015’s Hidden, but Paramount seems to be betting that the writer-directors have blockbuster potential.

This would mark the first major move for Cindy Holland, Paramount's Chair of Direct-to-Consumer, who, as Head of Originals at Netflix, championed Stranger Things. In fact, the Duffers would be reunited with two executives who were key to Netflix betting on the them and their 1980s supernatural drama.

Two of Netflix’s most valuable players may be heading to Paramount. Matt and Ross Duffer are eyeing an overall deal at the studio, The Hollywood Reporter has confirmed. The Duffers became name-brand creators when the first season of Stranger Things bowed in 2016 and has since become a crown jewel for the streaming service.