The Margin: Netflix renews ‘Stranger Things’ and gives showrunners a reported nine-figure contract

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The Duffer Brothers’ new contract goes almost all the way to Eleven.

The “Stranger Things” creators and showrunners have inked a new Netflix multi-year film and series deal that sources say is worth nine figures, according to the Hollywood Reporter.

Netflix Inc. NFLX, +1.73%   revealed the Duffer Brothers’ new deal — as well as a fourth season of “Stranger Things,” with a 45-second teaser — in a press release on Monday. The announcement comes almost three months after the third season of the streaming service’s supernatural series, which became an overnight hit in 2016 thanks to its endearing mix of 1980s nostalgia, suspense and likable child-turned-teen actors (including Millie Bobby Brown, who plays a mysterious girl named Eleven who has supernatural powers).

Netflix reported that 40.7 million household accounts had watched part of season three within the first four days of its July 4 launch — which was “more than any other film or series” in its catalog, the company claimed, though it generally does not disclose precise viewing numbers. The show has scored 18 Emmy nominations, winning five Creative Arts Emmys (including Outstanding Cast for a Drama Series).

As the streaming wars heat up — and Netflix is poised to lose two of its most popular shows, “The Office” and “Friends,” once those contracts expire — the company appears to be doubling down on the Duffers dreaming up some more hits.

“The Duffer Brothers have captivated viewers around the world with ‘Stranger Things’ and we’re thrilled to expand our relationship with them to bring their vivid imaginations to other film and series projects our members will love,” Netflix Chief Content Officer Ted Sarandos said in a statement. “We can’t wait to see what the Duffer Brothers have in store when they step outside the world of the Upside Down.”

Netflix has also struck deals with “Game of Thrones” creators David Benioff and D.B. Weiss (for a reported $200 million to $300 million), as well as “Wonder Woman” director Patty Jenkins ($10 million), and “Grey’s Anatomy” and “Scandal” creator Shonda Rhimes (reportedly for more than $100 million). And it recently picked up the exclusive streaming rights to “Seinfeld” reruns for a reported $500 million.