It was a savvy move on the part of the streamer to get the deal done for the follow-up. It also means Sony's cash payout out alone for making the first film is now $40 million instead of $25 million.

Netflix announced Thursday that a new animated series Stranger Things: Tales From ’85 is set to debut on the streamer in 2026. “Welcome back to Hawkins in the stark winter of 1985, where the original characters must fight new monsters and unravel a paranormal mystery terrorizing their town,” Netflix teased of the show.

David Benioff and D.B. Weiss are among the executive producers on the four-part James Garfield drama also featuring Betty Gilpin and Nick Offerman.