Netflix Inc. (NFLX) has just signed up another big-name, hit-making producer to an exclusive pact.

In a press release published on Wednesday, the entertainment giant announced that it inked an exclusive multi-year deal with Shawn Levy and his production company 21 Laps Entertainment. Levy, the award-winning director and producer behind the blockbuster “Night at the Museum” franchise, last year’s Oscar-nominated sci-fi movie “Arrival” and Netflix’s hit TV series “Stranger Things,” will be responsible for developing TV projects exclusively for the Scotts Valley, California-based company.

The deal, the latest step in Netflix’s mission for internet streaming domination, is believed to run for four years and is reported to be worth seven figures by Hollywood Reporter and eight figures by Variety. Hollywood Reporter added that Levy received multiple offers from various film and TV producers before signing on the dotted line.

"Shawn and 21 Laps are courageous and adept storytellers who lean into risk both narratively and by nurturing great young talent," said Cindy Holland, vice president of original content at Netflix. "They have an admirable track record for telling ambitious stories that have incredible heart and which resonate with audiences all over the world."

Levy and his production team first teamed up with Netflix on the sci-fi drama “Stranger Things”. The series won several awards, including five Emmys, and has since been renewed for a third season.

"I don’t know any other company that would have taken a chance on a show about kids and inter-dimensional monsters, created by young unknown twin brothers and produced by a movie director’s production company. Netflix did, and they bet big, and it’s been truly thrilling to take this wild ride with such exceptional partners," Levy said. (See also: Netflix Shares Could Be Headed Lower.)

Netflix’s move to tie down Levy proves once again that the streaming giant is keen to invest heavily in producing top quality original content. In August, Netflix signed a massive pact with “Grey's Anatomy" and “Scandal” creator Shonda Rhimes. Several months later, in November, it then inked another deal with “Orange Is the New Black” and “GLOW” producer Jenji Kohan. (See also: Netflix Steals Hitmaker Shonda Rhimes From Disney and ABC.)

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