Stranger things have happened before when it comes to Netflix and its often strained relationship with theater owners, but no one could have predicted the two sides would ring out 2025 as the best of frenemies.
The laurel branch? The series finale of Matt and Ross Duffer’s megahit show Stranger Things (which comes to an end just as Netflix embarks on a journey to buy legacy movie studio Warner Bros).
On New Year’s Eve, Stranger Things: The Finale debuted simultaneously on the streamer and in roughly 600 cinemas — more than a third belonged to AMC, the country and world’s largest chain — before holding encore showings throughout New Year’s Day. At AMC alone, the theater giant said that The Finale earned $15 million from the $20 food and beverage credits purchased.
Stranger Things: The Finale likely generated $20 million to $25 million in revenue, setting a new record for a Netflix title dipping its toe in the theatrical waters, according to box office and exhibition sources with access to key data. Last summer, a special event sing-along version of KPop Demon Hunters grossed $18 million (even though Netflix itself won’t report box office grosses, numbers are starting to be listed on various charts as fact).
As fate would have it, Netflix didn’t have to worry about reporting grosses for Stranger Things, since fans reserved a seat by purchasing a concession voucher directly from the theaters. AMC and Cinemark Theatres both charged $20, plus fees in certain instances. Regal Cinemas and several others charged $11, a reference to the name of the show’s lead character.
Earlier this week, the Duffers said on social media that 1.1 million vouchers had been sold. By New Year’s Day, Steve Buck’s leading research and exit polling firm EntTelligence showed admissions at 1.3 million. In addition to accounting for a third of all theaters booking The Finale; it could end up having sold the lion’s share of vouchers. AMC is expected to announce its tally by Monday.
“Our year ends on a high: Netflix’s Strangers Things series finale to show in many AMC theatres this week. Two days only New Year’s Eve and Jan 1. Theatres are packed. Many sellouts but seats still available,” AMC CEO Adam Aaron said in a tweet late Dec. 30. “How many Stranger Things tickets do you think AMC will sell?”
Aron gave four hints, including that the 1.1 stat was likely to grow notably. “Day of showtime walk-up business will be lighter than usual, because so many screenings are already sold out or almost full. But plenty of great seats are still available.” He also said AMC would be announcing the number of vouchers sold between Friday and Monday.
Netflix, along with the Duffers, hadannouncedthatStranger Things: The Finalewould be coming to theaters in addition to streaming back in October, reversing course on earlier statements made by the streamer that the ending wouldnotplay on the big screen.
“We’re beyond excited that fans will have the chance to experience the final episode ofStranger Thingsin theaters — it’s something we’ve dreamed about for years, and we’re so grateful to Ted [Sarandos], Bela [Bajaria] and everyone at Netflix for making it happen,”the Duffer brotherssaid at the time in a statement. “Getting to see it on the big screen, with incredible sound, picture and a room full of fans, feels like the perfect — dare we say bitchin’ — way to celebrate the end of this adventure.”
The Duffer brothers recently signed a four-year exclusive deal with Paramount to create feature films after their Netflix contract ends next year. Paramount is also eager to buy Warner Bros