Stranger Things season 4 would have been more expensive to make than Game of Thrones and The Mandalorian combined.
According to the Wall Street Journal, whose report on Netflix's cost-cutting measures helps reveal why the streaming giant is canceling so many shows, the next installment of Netflix's hit show will cost $30 million per episode. Considering the supernatural horror series' next season will consist of nine episodes, that means Netflix spent $270 million on Stranger Things season 4 alone.
For context, the final season of Game of Thrones cost $15 million per episode, while the hit Star Wars show The Mandalorian set Disney and Lucasfilm back by a similar amount. Additionally, the recent slate of Marvel shows that were released exclusively on Disney Plus reportedly cost $25 million per episode.
So, Netflix is going to great lengths to ensure that Stranger Things 4 is the TV series' biggest entry yet. From what we've seen so far, namely the three-minute trailer and a few teasers, that seems to be the case as well.
That said, Stranger Things season 4 won't be close to being the most outrageous TV show to arrive in 2022. The first season of The Lord of the Rings: The Rings of Power, set to premiere on Prime Video in September, according to the It reportedly cost €462 million, a monumental outlay that is sure to make it the most expensive TV series of all time.
Aún así, para una company de transmisión que está limitando el gasto, la revelación sobre los production costs de Stranger Things 4 probably will not feel them well a quienes han estado visiting Netflix últimamente. The streaming giant's trial of a paid password sharing feature, along with a slowing subscriber base and year-on-year growth, means things don't look rosy for Netflix in this moment.
After a nearly three-year hiatus from our screens, Stranger Things 4 Part 1 will be released exclusively on Netflix on Friday, May 27. Meanwhile, Part 2 will arrive five weeks later, on Friday, July 1. For more Stranger Things Season 4 content, check out our official trailer breakdown.
Analysis: paying the price(*4*)
Stranger Things season 4 could be the kind of big-budget show Netflix needs right now. With the myriad of issues surrounding the streamer, along with the likely unwanted press it's received since its Q2022 XNUMX earnings report, its management team could use a big win. Given the popularity of Stranger Things, the series is poised to deliver on that front.
Still, at $30 million an episode, Stranger Things 4's production costs are sure to turn heads. Yes, the latest installment in the TV series needs a budget to reflect the fact that it's the biggest installment yet. But given the financial troubles Netflix is suffering (and may continue to suffer), a new $300 million budget for Stranger Things season 4 might seem a bit steep.
It's a cost that may weigh on the creative teams behind other Netflix projects. According to the Wall Street Journal report, Netflix seeks to create "low-key and relatively inexpensive hits" to offset the financial outlay of its biggest shows and movies. Think of The Witcher (€10 million per episode), The Crown (€13 million per episode), Red Notice (€200 million total) and The Adam Project (€116 million total), and Netflix doesn't shy away from supporting its biggest hitters and most notable stars.
So Netflix is positioning itself to produce movies and TV series with smaller budgets in the hope of discovering the next Squid Game. From a financial perspective, this is a laudable position to take. But, from a creator's perspective, being able to receive a lower budget than Stranger Things may not allow them to realize their original vision for a movie or show. Once that project is out in the wild, it may not resonate with Netflix audiences, especially if it feels like it's poorly produced. This, in turn, can lead to Netflix canceling your production, which could be seen as a waste of money on Netflix's part. So the cycle continues.
Of course, Netflix has shown that a show's success doesn't equate to automatically renewing it for another season or two. Hit shows like Archive 81 have been canceled by the streaming company for the past several years, so positive audience engagement doesn't always mean a show will continue on Netflix. What it does do, however, is alienate fans from those shows, who might be inclined to cancel their Netflix subscription if they grew tired of the streamer's decision to pull the plug on fan-favorite productions sooner than expected.
While Netflix would certainly like to be considered as such, it's not Marvel. It can't be expected to be a hit every time, unlike any Marvel movie or TV show released so far (if you scrap the Eternals Phase 4 project, anyway). Netflix releases too much content (in an effort to cater to all audiences) to achieve this level of success on a regular basis.
However, he still pays the price of canceling popular shows that his fan base wants to continue watching. It goes without saying that you want to go in a different direction and produce cheap shows and movies if you decide not to renew the popular ones for other installments. It's wasted money and does little to instill confidence in your subscriber base that your favorite watches will stick around for the long haul.
So yeah, shows like Stranger Things 4, Shadow and Bone season 2, and others may need big budgets to make them bigger and better than their predecessors. But, with its stock plummeting 40% in the wake of financial and subscriber losses (according to Yahoo Finance), shelling out almost €300 million on Stranger Things Season 4 may not put it in the best position, especially with its audience.