• "Stranger Things" creators Matt and Ross Duffer will produce a live-action series adaptation of "Death Note" for Netflix
  • The Duffer brothers started a new production company for Netflix called Upside Down Pictures
  • The company's other upcoming projects include a live-action "Stranger Things" spin-off series

“Stranger Things” co-creators Matt and Ross Duffer have new projects in the works for Netflix following the record-breaking release of the two final episodes of Season 4 of their hit sci-fi horror series.

The Duffer brothers launched a new production company, Upside Down Pictures, and one of its first projects for the streaming service is a live-action series adaptation of “Death Note,” Deadline reported. The Japanese manga and anime series was originally written by Tsugumi Ohba and illustrated by Takeshi Obata.

“Death Note” follows the story of Light Yagami, who finds a mysterious black notebook that gives him the power to kill anyone just by writing down their names on it. The teenage boy decides to use it as a way to cleanse the world of evil but eventually becomes intoxicated with power.

Netflix released a “Death Note” film adaptation back in 2017, starring Nat Wolff, Willem Dafoe, LaKeith Stanfield and Margaret Qualley. However, the Duffers’ upcoming series will be an “entirely new take,” according to Deadline.

The series adaptation is one of several projects currently in development at Matt and Ross' Upside Down Pictures as part of their overall Netflix deal.

The company will produce a series adaptation of Stephen King and Peter Straub‘s 1984 novel “The Talisman” as well as an original series from “Dark Crystal: Age of Resistance” writers Jeffrey Addiss and Will Matthews.

Upcoming projects also include a live-action “Stranger Things” spin-off series and a stage play set within the mythology of the series.

Upside Down Pictures will be headed up by Hilary Leavitt, who previously ran her own Hulu-based Blazer banner and helped develop series such as “Ozark,” “Orphan Black” and “The Great.”

“It didn’t take long into our first meeting with Hilary, where we bonded over films like 'Jaws,' 'Home Alone' and 'Speed,' to know we had found a kindred spirit,” the Duffer brothers said in a statement obtained by the Hollywood Reporter.

“Hilary’s passion for storytelling is perhaps matched only by her passion for the storytellers themselves, for whom she is fiercely protective. No wonder so many writers and directors are drawn to working with her. She is a rare talent indeed, and we feel extremely grateful to have her at our side as we build Upside Down Pictures,” they added.

In a statement, Netflix co-CEO and chief content officer Ted Sarandos praised the Duffer brothers for their exceptional talent that made “Stranger Things” the phenomenon it is today.

“Matt and Ross are an exceptionally unique talent with a vision so crisp and clear,” said Sarandos. “They are all about the details — it’s no accident that Stranger Things has pierced the zeitgeist to become the epic pop culture phenomenon it is today. We’re excited to continue telling new stories with them as they grow Upside Down Pictures and to welcome Hilary as creative partner.”

News of Netflix and the Duffers expanding their slate of projects came after the streaming giant suffered a net loss of 200,000 subscribers in its first quarter.

“Stranger Things” Season 4 recently became the streamer's second title to reach a billion hours viewed, after the South Korean hit drama series “Squid Game” in 2021.

matt and ross duffer
Show creators Matt and Ross Duffer opened up about the newcomers of “Stranger Things.” Pictured: Matt Duffer (left) and Ross Duffer attend The Weinstein Company and Netflix Golden Globe Party, presented with FIJI Water, Grey Goose Vodka, Lindt Chocolate, and Moroccanoil at The Beverly Hilton Hotel on Jan. 8, 2017 in Beverly Hills, California. Tommaso Boddi/Getty Images for The Weinstein Company