Report: Netflix spent $30 million per episode on the fourth season of Stranger Things
In possibly related news, the streaming service is going through some financial issues.
The fourth season of Stranger Things will premiere on May 27, and Netflix is hoping you all like it. A lot. According to the Wall Street Journal, Netflix paid $30 million per episode for the sci-fi hit's fourth season – at nine episodes, that means the show cost the streaming platform at least $270 million in production fees.
The eye-popping figure comes amid a discussion on Netflix's need to balance lower budget hits like Virgin River and Squid Game with the also-successful and far more expensive shows like Stranger Things, which racks up a big bill thanks in part to its many special effects shots.
Yesterday, Netflix's stock fell 37% after the company posted a significant subscriber loss while predicting as many as 2 million more would leave the platform in the next quarter. The company is reportedly considering a crackdown on password sharing and adding a lower-cost subscription tier with commercials.