The Witcher Season 4’s Jaw-Dropping Over $25M-Per-Episode Budget Puts It Right Behind Stranger Things Season 4

The Witcher is swapping faces and printing money. Henry Cavill is out, The Hunger Games alum Liam Hemsworth is in, and Netflix is throwing a downright blockbuster-sized budget at season 4 to make the handoff stick.

Netflix is spending blockbuster money on Geralt 2.0

Season 4 is the show’s priciest run yet. Per Redanian Intelligence, Netflix has spent about $221 million on the new season — roughly $27 million an episode, well over that $25 million-per-episode line. For a fantasy series based on Andrzej Sapkowski’s books (with a huge boost from the games), that’s feature film territory.

• Season 2 cost about $176.3 million total.
• Season 3 came in around $175 million, averaging $21.8 million per episode.
• Season 4: approximately $221 million total, around $27 million per episode.

How it stacks up to movies and Netflix’s own whales

To put that in perspective: James Gunn’s Superman is estimated at $225 million, and Marvel’s Fantastic Four is reportedly landing between $200–$250 million. That’s the range The Witcher season 4 is playing in.

On the per-episode front, this is one of the costliest seasons Netflix has ever mounted. Stranger Things season 4 still holds the crown at over $30 million per episode, but The Witcher is comfortably in that top tier.

The running tab: Netflix’s most expensive show (for now)

Thanks to this spendy season, The Witcher’s series-wide budget has climbed to about $720 million — and that’s not counting any spin-offs. That makes it Netflix’s most expensive show to date, ahead of The Crown at around $650 million and Stranger Things at just under $500 million. Caveat: Stranger Things season 5’s final bill could change that leaderboard once the dust settles, as noted by Collider.

So why the splurge?

The obvious read: Netflix knows it’s navigating a delicate moment. Henry Cavill was a fan-favorite Geralt, and swapping him for Liam Hemsworth is a big swing. Pouring money into the world-building, action, and spectacle is one way to keep viewers locked in while the lead changes face.

When you can judge for yourself

The Witcher season 4 drops on Netflix on October 30, 2025. We’ll find out then if all those millions show up on screen — and if the Geralt handoff goes down smoothly.