Netflix inks its first-ever master toy deal with Jazwares for Stranger Things

Expanding on a limited Squishmallows deal from 2024, the toyco will develop a full range of action figures, playsets, costumes and vehicles inspired by the teen thriller franchise.
January 30, 2025

Given the high profile and widespread success of many of its original series, it seems odd that Netflix hasn’t signed a single master licensing deal for any of them—until now.

Jazwares has just scored the global master toy rights to Stranger Things and is working on an all-ages range of action figures, playsets, costumes, vehicles, plush, pet toys and accessories. A launch window hasn’t been set yet, but the Florida-based toyco will showcase its licensed products to potential retail buyers at Licensing Expo in May. 

This bigger partnership is an expansion of a category-specific licensing deal that Netflix and Jazwares launched last June for a range of Stranger Things Squishmallows based on main character Eleven, a Demogorgon and the mascots from Stranger Things‘ in-universe ice cream retail brand Scoops Ahoy. And Jazwares is gearing up to release several new character-based SKUs later this year. 

Josh Simon, VP of consumer products at Netflix, says the streamer’s master toy deal with Jazwares is a natural next step for elevating the Stranger Things franchise off-screen and providing new ways for fans to immerse themselves in the brand. A fifth and final season of the hugely popular live-action show will drop later this year, and an animated series concept is in development at Upside Down Pictures, 21 Laps and Flying Bark Productions.  

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