Netflix’s Stranger Things Finale Brings in Over $25 Million at Theaters

Movie theaters saw a revenue boost from the theatrical run of the Stranger Things series finale, even as the episode debuted simultaneously on Netflix.

According to Variety, cinemas earned an estimated $25 million to $28 million by showing the finale, which played in more than 620 theaters over two days, New Year’s Eve and New Year’s Day. The finale became available for streaming on Netflix at the same time.

Pinning down an exact figure is difficult because ticket pricing varied widely, and tickets were not technically sold at all. Deadline reported that theaters were unable to charge admission for the Netflix event due to the cast’s contractual terms tied to residuals. Instead, they required moviegoers to reserve seats with concession vouchers. Netflix does not report box office grosses or theater chains’ concession revenue, making third-party estimates the primary source for gauging the event’s financial impact.

Pricing for those vouchers differed by chain. AMC and Cinemark charged $20 for a concession voucher, while Regal Cinemas and other circuits charged $11, a reference to the character Eleven, played by Millie Bobby Brown. AMC said it generated $15 million from more than 753,000 guests who purchased food and beverage credits. The chain accounted for slightly more than one-third of the total theater count.

A few days ahead of the finale’s release, series co-creator Ross Duffer revealed on social media that 1.1 million vouchers had been sold across participating theaters.

For context, Netflix’s KPop Demon Hunters reportedly drew about 700 million RSVPs ahead of its two-day theatrical release in late August and generated roughly $19 million for exhibitors, though AMC, the largest theater chain, did not participate in that run. By further comparison, 20th Century Studios’ Avatar: Fire and Ash, the season’s top-grossing film, earned a combined $23.7 million at the box office over New Year’s Eve and New Year’s Day.

The turnout has fueled further interest in big-screen releases of streaming content. On Friday, AMC chief executive Adam Aron suggested that more Netflix programming could find its way into theaters.

“At AMC, our company is excited about the prospect of taking more Netflix content to theater-goers, and I might add that the working relationship between the two companies in our two recent projects has been easy, creative, and seamless,” Aron said in a statement. “It should come as no surprise then that our two companies already have actively commenced discussing what additional Netflix programming can be shown on AMC’s giant screens.”

The Stranger Things finale closed out five seasons and nearly a decade of the hit series, with Eleven and the rest of the group facing a final battle to end the nightmare and defeat Vecna once and for all. Since its debut in 2016, the show has grown into one of Netflix’s most popular series.

Stranger Things 5 finale trailer: