The Stranger Things Series Finale Will Do What No Netflix Show Has Done Before

Netflix has a complicated relationship with movie theaters. The king of all streaming services generally only screens its films in theaters when it's advantageous, like to qualify for awards. When it comes to its TV shows? It's essentially film festival premieres, and that's it. But that's about to change, it seems, as "Stranger Things" season 5, which will bring the long-running, beloved sci-fi/horror series to a close, is getting the big screen treatment.

According to Puck, the "Stranger Things" series finale will indeed play in theaters. This runs counter to previous reports indicating that Netflix had rejected a theatrical release for the show's final season. However, the report notes that when series creators Ross and Matt Duffer spoke on the topic, that interview was conducted weeks ago. Much has changed since then, and while we should note that Netflix hasn't directly confirmed the news, all the pieces seem to be sliding into place.

We recently reported that Netflix and AMC Theatres reached a deal to screen "KPop Demon Hunters" over Halloween. AMC, the world's largest theater chain, previously declined to show Netflix movies due to disagreements over terms. But the two parties are now working together, and, as the report notes, the "Stranger Things" finale will indeed play at AMC locations on New Year's Eve, the same day it hits Netflix. The report also notes that the deals aren't signed, but that it's happening. It's just a matter of getting ink on paper.

This will be historic, marking the first time that a major Netflix TV series has gotten a meaningful theatrical release. It makes sense to start with "Stranger Things," itself easily one of the streamer's most popular shows. More importantly, it has a devoted fanbase that should be willing to leave the house for such an event.

For now, we have several questions. Is the "Stranger Things" finale going to be exclusive to AMC or play at other theater chains? Will tickets go for a premium or be offered at a standard price? Most importantly of all, is this the start of Netflix finally embracing the cinematic experience in a more meaningful way? These questions won't be answered right away, but they're certainly worth asking.

It's worth remembering that the Duffers have signed a deal with Paramount that will take them away from Netflix in the future. The major sticking point for the Duffers was that they wanted to make movies specifically for theaters. Netflix would've surely let them make a film, but it would've been for streaming, and that's not what they wanted. Hence, it's somewhat ironic that they're now getting the theatrical treatment for the finale of the show that made them superstars in Hollywood.

Meanwhile, this could make financial sense for Netflix. "Stranger Things" season 5 is remarkably expensive, costing as high as $60 million per episode. Granted, the series finale is a feature-length two hours, so some of that makes sense. But Netflix still needs to ensure its investment is worth it, and generating some revenue at the box office would be one way to offset its costs. In the future, it could lean on theaters to generate additional revenue, just as it did with "KPop Demon Hunters" over the summer. Then again, this may be another one-and-done experiment to keep the Duffers happy while also making good with AMC to ensure the next time Netflix wants a movie in theaters, the company will play ball. We'll see how it shakes out.

"Stranger Things" season 5 premieres November 26, 2025, on Netflix.