“Stranger Things” is back with a bang.
Season five’s first episode pulled in 59.6 million views in five days, topping all English-language Netflix debuts. The long-awaited final season Thanksgiving-eve release briefly crashed Netflix in the U.S.
Since 2020, “Stranger Things” has earned Netflix at least $1 billion, according to Parrot Analytics. The platform’s subscriber count has soared from about 94 million in 2016, when the show debuted, to more than 700 million today.
Numbers like these reinforce a long-held Hollywood belief that one monster hit can change everything.
UVA Darden School of Business professor Anthony Palomba examines the intersection of entertainment, analytics and business strategy in a new co-written study on “superstar series.” (Contributed photo)
University of Virginia Darden School of Business professor Anthony Palomba explored how entertainment, analytics and business strategy work together in a new co-written study on “superstar series,” defined as the top 1% of shows in audience demand. His findings help explain the popularity of “Stranger Things” and how breakout hits can attract more viewers to a streaming service.
Q. “Stranger Things” grew from a quirky show rooted in ’80s pop culture to a global phenomenon. What has made the show so popular for so long?
A. It is novel yet familiar. If we think about pop culture zeitgeist, say “E.T.” or “Nightmare on Elm Street,” we are keyed to look for these particular scenes. We’re keyed to be able to keep peeling the onion back on the show.
“Stranger Things” is a cast of outcasts. And we can all relate to that, because at one time or another, we’ve been outcasts. This idea of bringing together people from many different backgrounds, united by a shared sense of being outsiders, is deeply resonant today.
In an era shaped by social media, many of us are made to feel like outcasts: not pretty enough, not successful enough, not “enough” in one way or another. We chase our perceived ideal selves and sometimes forget to stand firm with who we already are.
“Stranger Things” asks nothing of us except a willingness to go on chilling adventures. There is something appealing about being part of that club. It makes me think about The Losers Club from “It,” which is another movie that capitalizes on misfits – people who don’t belong anywhere – who are saving, empowering and defending. What they lack in manufactured or surface-level social capital, they more than make up for by being extraordinary human beings.
Q. How unusual is it for Netflix to split a final season into three drops, from a pre-Thanksgiving premiere to Christmas episodes, and then a New Year’s Eve theatrical showing?
A. It’s extremely unusual, and you’d only attempt something like this with “Stranger Things” or a very small number of similarly iconic series. It’s happening at a moment when entertainment windows and distribution models are blurring, and platforms are experimenting to find what actually drives sustained engagement.
By staggering the release, Netflix can temporarily reduce churn, boost engagement metrics, and strengthen its negotiating position, whether with creditors, creatives or advertisers.
