‘Stranger Things’ Gives Netflix a Much-Needed Boost

Kristin Snyder

Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

‘Stranger Things’ Gives Netflix a Much-Needed Boost
Courtesy of Netflix

“Stranger Things” just gave Netflix a sorely-needed win, drawing record viewership over the holiday weekend.

Based on Netflix’s internal metrics, viewers watched a combined 287 million hours of season 4, volume 1 of the coming-of-age sci-fi drama, which premiered on Friday. This marks the largest premiere weekend for an English-language TV show on the platform, surpassing “Bridgerton” season 2’s haul of 193 million hours, according to Variety.


Each episode’s lengthy runtime likely helped “Stranger Things” claim the top spot; the shortest episode of the new season is just over an hour long, while the longest is around one hour and forty minutes. The show’s three previous seasons also snuck back into Netflix’s top 10 last week, while its influence is being felt across other media platforms as well: Kate Bush’s 1985 song “Running Up That Hill” catapulted to the no. 1 spot on iTunes after its inclusion in season 4, while the fantasy tabletop game “Dungeons & Dragons,” which also features prominently, is having a moment.

That kind of impact comes at a cost: Netflix reportedly spent an average of $30 million on each episode of the new season of “Stranger Things.” Such spending may have to be curbed amid the streamer’s recent struggles, as evidenced by a poor first-quarter earnings report that saw the company lose subscribers for the first time in more than a decade. That subsequently sent Netflix's stock price tumbling and has triggered layoffs and cultural shifts inside the company.

Still, “Stranger Things” has given Netflix a huge boost at a difficult time, and it’s not over yet: Volume 2 of the fourth season, consisting of two feature film-length episodes, drops on July 1. In the company’s April earnings call, co-CEO Ted Sarandos said the season 4’s two-part release was intended to be “satisfying for the binger or the one-at-a-time viewer, as well.”

But no party lasts forever: When “Stranger Things” comes to a close after its fifth and final season, Netflix's strategy for filling the upside-down void left by one of its most beloved and marketable properties could involve a dubious mix of gaming, livestreaming, ad-supported programming and multiple transphobicstand-up comedy specials.

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LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Mapp Gains New CPO and CTO, Prodoscore Taps Boeing Exec
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

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This Week in ‘Raises’: GITAI Lands $30M, Steno Gains $15M

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

A local space robotics startup raised fresh funding to expand the flight model manufacturing facilities throughout the U.S. and increase employment, while a remote litigation platform raised more funding to continue growing its footprint in new markets across the country, develop service channels for its clients and continue expanding its tech team.

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Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Gitai Raises $30 Million to Expand Manufacturing Footprint in Los Angeles
\u200bPhoto: Gitai

Space robotics company Gitai raised a $30 million Series B extension this week, bringing the total value of the round to roughly $47 million.

The funding will be used to further develop Gitai’s suite of space robots as well as build out its manufacturing footprint in Torrance. Previously Gitai announced it raised a $17.1 million Series B in March 2021; this additional raise is still part of that round.

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