Shawn Levy and his production company, 21 Laps Entertainment, have signed a multi-year overall television deal with Disney’s 20th Television. The agreement marks a significant transition for the Stranger Things executive producer, effectively ending a long-term partnership with Netflix that helped define the streamer’s original content strategy over the last decade.
The deal is reported to be a five-year, nine-figure agreement, according to Puck News. Netflix reportedly attempted to retain Levy by matching Disney’s offer during a competitive bidding process, but ultimately failed to keep the filmmaker from returning to the Disney and Fox ecosystem where he began much of his career.
This move completes a broader shift of the creative team behind Stranger Things. It follows the departure of the show’s creators, Matt and Ross Duffer, who signed an exclusive deal with Paramount in April 2026. While Levy will remain an executive producer on the Stranger Things franchise at Netflix through its conclusion and subsequent spinoffs, his future television development will now live under the Disney umbrella.
The Transition to Legacy Studios
The new contract with Disney is scheduled to officially begin in October 2027, once Levy’s current obligations at Netflix have expired. However, the producer is already deeply integrated into Disney’s theatrical roadmap. His upcoming directorial projects include Star Wars: Starfighter, which is slated for release on May 28, 2027, and stars Ryan Gosling.
The collaboration with Gosling will continue into the Marvel Cinematic Universe. Levy is also set to direct a Ghost Rider film for Marvel Studios, featuring Gosling in the title role, with a target release in 2028. This heavy workload within Disney’s major film franchises was reportedly a factor in the move, allowing Levy to consolidate his television and film projects under a single corporate roof.
The deal’s scale reflects a premium on “franchise builders” at a time when legacy studios are seeking to stabilize their streaming and theatrical outputs with proven talent.
Balancing Future Obligations
Levy’s decision to commit to Disney also involved passing on other high-profile opportunities. He reportedly turned down an offer from Tom Cruise and Paramount to direct Days of Thunder 2 to ensure he could meet the demands of his upcoming Star Wars and Marvel commitments.
The deal signifies a “homecoming” for Levy, whose 21 Laps banner had a long history with 20th Century Fox prior to the Disney acquisition. While the 2027 start date for the TV deal creates a transition period, the move signals the end of an era for Netflix, which is now faced with the task of developing new tentpole creators as the team that built its most iconic series migrates to rival studios.
