‘Stranger Things’ ushered in a new era for Netflix

The original concept for what would become “Stranger Things” was rejected by more than 15 studios before it took off. of Netflix original programming list.

A decade later, the series, created, written and directed by Matt and Ross Duffer, has become one of the great cultural touchstones of the streaming era, proving that Netflix is ​​not just a competitor, but a leader in the space.

“People talk about Netflix all the time and [say] Our biggest moment was when we performed ‘House of Cards’ and that was a big deal. But our real moment was when we put ‘Stranger Things’ on stage,” co-CEO Ted Sarandos said at the Season 5 premiere of “Stranger Things” in Los Angeles last month.

“‘House of Cards’ was great. It kind of told the world that we were going to make really good TV shows,” he continued. “But with ‘Stranger Things,’ it was much closer to a ‘Star Wars’ moment. This is a show with characters that galvanized culture, spawning live events, consumer products, spinoffs and sequels.”

Volume 1, consisting of the first four episodes, premiered during the Thanksgiving holiday and had 59.6 million views in the first five days. biggest premiere week for an English series on Netflix. It ranks third overall after Season 2 and Season 3 of the Korean drama “Squid Game”.

In its second week on the platform, Volume 1 broke the streamers’ record by racking up another 23.6 million views. weekly chartsEach of the previous four seasons saw an increase in weekly views as fans re-watched previous episodes, Netflix reported.

The three-part Volume 2 of Season 5 of “Stranger Things” arrives at Christmas and final episodeThe series, which has a runtime of just over two hours, is set for New Year’s Eve. The finale can be watched in select cinemas on New Year’s Eve and New Year’s Eve.

Breaking with tradition, Netflix will not sell tickets for these screenings. Instead, more than 500 local cinemas will sell concession coupons that will guarantee seating for screenings. These coupons can be used for food and beverage purchases at venues. Additionally, theater owners will keep all revenues from these purchases.

Netflix and participants have faced confusion in the past over streaming conditions, with the streamer not committing to long-term theatrical releases for films it wanted to qualify for the awards competition.

“Nothing would make us happier than having Netflix movies playing in our theaters,” said Adam Aron, AMC’s CEO. expression earlier this month. “We think this could be beneficial for everyone involved. But there is still a lot to figure out to achieve this goal, as we need to be fair to our existing studio partners. Even so, there is progress.”

“Stranger Things” sparked a renaissance in the 1980s; It has revived fashion trends, music and even discontinued food brands for a new generation.

Netflix partnered with consumer brands to produce T-shirts, mugs, plush toys and similar products when the series first aired, but it mainly worked with licensees. This means that it collects fees from or participates in other companies to design and make products. brand partnerships where no fees are exchanged.

The company established its own company in 2019. consumer products division and two years later its own official license online store.

Coinciding with the launch of the final season of “Stranger Things,” Netflix announced dozens of partnerships and collaborations with brands across the spectrum of merchandise, retail and restaurants.

Publisher tapped Lego, funkosquishmallows, hasbroJazwares and the Care Bears will bring “Stranger Things” toys and collectibles to fans of the series. There are clothing and lifestyle deals Openness, Nike, crocodilesFood and beverage collaborations with brands such as CoverGirl, Zara and Wrangler, as well as Eggo, Doritos, Kellogg, Gatorade and more Starbucks.

“We’re incredibly excited to partner with so many incredible brands to offer fans and friends the broadest collection of products and experiences in the history of ‘Stranger Things’ and one of our biggest campaigns yet,” Netflix chief marketing officer Marian Lee said in a statement earlier this month. he said.

Outside of the retail space, Netflix has also expanded into the live event space, bringing “Stranger Things” to life through an immersive experience that allows fans to explore Hawkins Lab and other iconic locations from the series. It currently operates in Abu Dhabi, United Arab Emirates, and will open in Mexico City next month.

There is also a game called “Stranger Things: First ShadowIt has been running in London’s West End since 2023 and in New York since this spring.

Netflix also has a deal with Epic Games that brings “Stranger Things” elements to the popular online video game Fortnite.

Netflix’s product and live event strategy is more than just a way for the company to generate revenue outside of streaming subscriptions. Industry experts said this feature helps fans stay engaged with its content during breaks in shows and between sequels.

This playbook isn’t unique to Netflix, but it shows the streaming service’s maturation. More than a blueprint that could be adopted by every Netflix show or movie, “Strangers Things” is the gold standard of what is possible.

“[Netflix] “Orange is the New Black” and “House of Cards” had a few good shows early on, but it took them a few years to find “Stranger Things,” Wedbush analyst Michael Pachter told CNBC via email. “They’ve had tons of success since then with shows like ‘Squid Game’ and ‘Bridgerton,’ but it was questionable whether they could agree on a formula to come up with original intellectual property.

“‘Stranger Things’ remained a solid intellectual property throughout and generated a lot of recognition,” he added.