Netflix is deepening its presence in the toy industry by partnering with Jazwares, the company behind the popular Squishmallows plush toys, to develop a new product line inspired by its hit sci-fi series Stranger Things. This marks Netflix’s first master licensing deal, granting Jazwares the rights to create a range of toys, including action figures, play sets, toy vehicles, costumes, and stuffed toys based on the beloved series.
Building on an existing relationship, the partnership follows last year’s introduction of Stranger Things-themed Squishmallows, which became an instant success among fans. With the show returning for its fifth and final season later this year, Netflix aims to expand its merchandising efforts, tapping into the nostalgia and pop culture appeal that made Stranger Things a global phenomenon.
“The Duffer Brothers have created such an incredibly rich world packed with ’80s nostalgia, pop culture references, and great characters,” said Josh Simon, Netflix’s vice president of consumer products. “We want to bring that same level of storytelling and attention to detail to our merchandise.”
This approach aligns with Netflix’s broader strategy of leveraging its most popular series for consumer products and immersive experiences. Stranger Things was the company’s first major franchise success, paving the way for partnerships that brought fans Scoops Ahoy ice cream, Surfer Boy frozen pizza, and collaborations with brands like Clarks for retro footwear.
Beyond merchandise, Stranger Things has expanded into books, an animated spin-off, and an Olivier Award-winning stage play, Stranger Things: The First Shadow, set to open on Broadway in March. Netflix has also applied similar strategies to other franchises, including Squid Game and Bridgerton, and recently announced a partnership with LEGO to create play sets inspired by One Piece, its live-action adaptation of the iconic manga series.
The popularity of Stranger Things is what drew Jazwares to the deal. The toy company, owned by Berkshire Hathaway, has successfully produced products inspired by Pokémon, Hello Kitty, and Star Wars.
“We’re well aware of how big Stranger Things is,” said Gerhard Runken, executive vice president of brand and marketing at Jazwares. “We want to mirror the success of the show through consumer products.”
Netflix does not publicly disclose revenue from merchandise sales, but Co-CEO Ted Sarandos has emphasized that these ventures strengthen brand engagement and drive excitement for its streaming content. With its growing focus on licensing and merchandising, Netflix is set to make an even bigger impact beyond the screen.
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