Stranger Things is undoubtedly the biggest Netflix Original of all. The hit TV series was a game-changer back in 2016; it wasn’t the first Netflix Original to become a hit (House of Cards was Netflix’s first flagship), but it was definitely “watercooler TV.” Stranger Things solidified the streaming model that has dominated popular culture for most of the last decade, establishing binge-watching as a whole new way of watching TV. It gave Netflix bosses confidence they could launch whole new franchises that would be as big as rivals like the MCU.
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Streamers are always reluctant to reveal just how much their shows are worth. Netflix in particular runs a data-driven operation, and every bit of information has so much value. Given that’s the case, if we want to know just how important Stranger Things has become to Netflix, we need to look to third-party analytics companies. Step forward Parrot Analytics, who shared some shocking new data with The Wrap over the weekend. In doing so, they revealed the sheer scale of Stranger Things‘ success – and the problem now facing Netflix.
Stranger Things Has Generated Over $1 Billion In Revenue Since 2020
Parrot Analytics has crunched the numbers, and according to their model, Stranger Things has generated just over $1 billion in global streaming revenue for Netflix since 2020. It’s worth noting that the first three seasons released before 2020, meaning this is in fact a conservative estimate of the show’s overall value. Even better, Parrot identify a surge of interest and engagement that corresponds to every new release – and this, of course, is before Season 5 is factored in.
There are really three major metrics of success for any streaming service.
- New subscribers – according to Parrot Analytics, since 2020, Stranger Things has been responsible for over 2 million new signups worldwide.
- Retention – a show as popular as Stranger Things will inevitably lead to short-term sign-ups, so retention depends on the quality of Netflix’s library and recommendation algorithms. That said, the staggered releases associated with seasons 4 and 5 are tremendously helpful, encouraging new subscribers to stick around a little longer.
- Engagement – typically measured in terms of minutes viewed. Stranger Things has consistently dominated streaming charts during this period.
This new data proves Stranger Things is easily one of Netflix’s most valuable properties – and, frankly, suggests it is an unparalleled success.
Stranger Things’ Success Means Netflix Face A Problem
But Stranger Things‘ success is actually something of a problem. The first volume of Stranger Things Season 5 is out now, with a second volume due out on December 25 and the final episode on December 31. Then, the story of Stranger Things is over. The Duffer brothers are even moving on from Netflix, heading to Paramount to make movies. Right now, Netflix is working to get as much value from this final season as possible, and that’s the end of the road.
Netflix, of course, is determined not to let this franchise die. A Stranger Things animated spinoff is in the works, set during the main Stranger Things timeline and featuring recasts of all the main Hawkins kids. Meanwhile, the series has expanded beyond the screen in a Broadway show, as well as a range of tie-in novels and comics (of dubious canonicity). And yet, even assuming Netflix’s attempts to continue Stranger Things are successful, the franchise will never be as big as it is now. “We’re not Star Wars,” Ross Duffer told Variety earlier this year. “We can’t be like, ‘Oh, now we’re on this planet.’”
Stranger Things has brought in over $1 billion in revenue for Netflix since 2020 alone. Season 5 is sure to be another hit, complete with a theatrical release for the final episode. But Netflix is undoubtedly now on the lookout for the next Stranger Things, the next TV show that will become its flagship and dominate popular culture for a decade or more, filling the massive gap this series will leave in its enormous library of content.
Volume 1 of Stranger Things 5 is currently streaming on Netflix. Volume 2 arrives on December 25th, with the final episode following on December 31st.
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Image courtesy of Lucasfilm
