Netflix have officially confirmed that Stranger Things will return for a fourth season, although that's no surprise as they inadvertently confirmed it way back in July when they booked the studio space for filming.
The fourth season is part of a much bigger deal negotiated by Netflix with the show's creators, the Duffer Brothers, said to be worth at least $100 million. This deal will include exclusive development deals for new TV shows outside the Stranger Things universe as well as first-look rights at film ideas.
It is as yet unclear if the fourth season will be the final one, with the Duffer Brothers previously saying they felt that four seasons might be too short but five might be too long. There is also the possibility of a fourth season and then either a shortened fifth season or a film to wrap up the story. According to a short promo released by Netflix, more of the fourth season will be set outside the series' traditional setting of Hawkins, Indiana.
Production of Season 4 of Stranger Things is set to begin in October, with a likely air date around Halloween 2020.