Netflix spent an eye-watering amount on each new Stranger Things season 4 episode

Netflix is throwing money at the Upside Down. According to a new industry report, Stranger Things season 4 involves the sort of budget that would make it one of the most expensive TV shows ever made.

As per the Wall Street Journal (opens in new tab), Stranger Things season 4 reportedly has a “per-episode cost of $30 million.” The upcoming season, which will be split into two volumes, will consist of nine episodes – meaning the total budget could run north of a quarter of a billion dollars. That’s billion. With a B.

By comparison, Marvel’s recent wave of Disney Plus shows were thought to have a per-season budget of around $100-$150m each – which is pretty small potatoes to what they’re dealing with in Hawkins, Indiana.

While figures are almost never publicized, it appears that the only series that even comes close to Stranger Things season 4’s outlay is the upcoming Lord of the Rings series on Amazon. The Hollywood Reporter (opens in new tab) says the first season alone of the television trip to Middle-earth is all set to cost the streamer a whopping $465m. Even Smaug might not have the loose change to pay for that.

The Netflix sci-fi series isn’t going to run up a hefty tab for much longer, however. Stranger Things is set to end after its fifth season.

Speaking to SFX magazine for its new issue, co-creator Matt Duffer said it might feel like they’ve pulled the trigger too soon on saying goodbye to Eleven and company – but it’s the right move.

“Even with five it’s going to feel like it’s ending a little early,” Matt says. “We’re going to feel like we still have a lot more gas left in the tank. But I think that it’s better to end there with us wanting more. That’s why ending at five felt like the right move.”

For more from the streamer, check out the best Netflix shows you should be watching right now.

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