Stranger Things is ending, and so is Netflix’s reliance on tentpole shows

Four teenage boys standing together in the woods while putting their hands together.

(L to R) Gaten Matarazzo as Dustin Henderson, Finn Wolfhard as Mike Wheeler, Caleb McLaughlin as Lucas Sinclair, and Noah Schnapp as Will Byers. | Image: Netflix

When Stranger Things first premiered in 2016, Netflix was still courting new subscribers with splashy original projects that were meant to have broad audience appeal. The company had solidified itself as a major player in the streaming wars with massive hits like House of Cards, Orange Is the New Black, and a collection of live-action Marvel series. The shows were all very different, but they each felt like part of an ambitious plan to establish Netflix as the gravitational center of a new pop cultural era.

Those big, watercooler tentpole projects made Netflix feel like a platform worth subscribing to because of how large they loomed in the …

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