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Stranger Things season 3 will run 8 episodes, down one from season 2 but the same as season 1.
No reason was announced, but since season 2 felt like it meandered a bit more than season 1, it may just indicate tighter storytelling, or a desire to get production going a little faster before the kids get noticeably older and a time-jump is required.
Season 2’s extra episode didn’t benefit it much storywise (ahem, episode 7), so my gut reaction is that this is good for the show.
Stranger Things Season 3 does not yet have a release date.
Stranger Things Season 3 Episode Count (Finally) Revealed [TVLine]