CHILLING ADVENTURES TRAILER DROPS: Season 3 of Chilling Adventures of Sabrina forecasts hell to pay when the series returns January 24th. Here’s the synopsis: “Though she defeated her father Lucifer, the Dark Lord remains trapped within the human prison of her beloved boyfriend, Nicholas Scratch. Sabrina can’t live with herself, knowing that Nick made the ultimate sacrifice and is suffering, burning in Hell under Madam Satan’s watchful eye. So with an assist from her mortal friends, ‘The Fright Club’ (consisting of Harvey, Rosalind, and Theo), Sabrina makes it her mission to free him from eternal damnation and bring him back into her arms. However, the Dark Lord’s unseating has sent shockwaves through the realms—and, with no one on the throne, Sabrina must assume the title of ‘Queen’ to defend it against a challenger, the handsome Prince of Hell Caliban. Meanwhile, in Greendale, a mysterious carnival rolls into town, bringing with it a threat to the Spellmans and the coven: A tribe of pagans looking to resurrect an ancient evil.” Kiernan Shipka leads as Sabrina, with Miranda Otto, Lucy Davis, Ross Lunch and Gavin Leatherwood among the other returning stars.

PUNKY BREWSTER SERIES ORDERED: NBC’s newbie streamer Peacock is greenlighting a follow-up series to the classic sitcom Punky Brewster. The reboot will star the OG Punky Soleil Moon Frye and Cherie Johnson. The series will follow Punky as a single mother of three trying to get her life in order, when she meets Izzy (Quinn Copeland), a young girl in the foster system who reminds her or her younger self. Peacock is set to debut in April.

RYAN MURPHY TO BE HONORED: Ryan Murphy will take home the Vito Russ Award at the GLAAD Media Awards on March 19th. Named for the organization’s founder, the award recognizes members of Hollywood who champion LGBTQ inclusion on-set. The Emmy, Golden Globe and Peabody Award-winning writer, producer and director has been honored by GLAAD many times for his work in the LGBTQ community.

NETFLIX TO SPEND MORE THAN $17B IN CONTENT THIS YEAR: Netflix is revving the engine on spending once again. This year, the mega-streamer is expected to spend $17.3 billion in content, according to a forecast from BMO Capital Markets. By 2028, BMO says Netflix will shell out $26 billion annually. “We continue to believe the ‘streaming wars’ narrative is false and there will be multiple winners in global streaming,” BMO’s Dan Salmon wrote in the research note.