The Stranger Things Finale Was A Huge Hit For Theaters - But It Won't Impact The Box Office

After nearly a decade, the tale of Eleven and the Upside Down has come to an end, with the "Stranger Things" series finale having barely premiered on Netflix. The epic, two-hour, feature-length episode also played in theaters across the U.S., and it was, by all accounts, a massive hit. Odd though it may be, though, all of that foot traffic isn't going to have any impact at the box office.

The "Stranger Things" finale is estimated to have brought in as much as $30 million in revenue between New Year's Eve and New Year's Day, per Deadline. Except, theaters didn't technically sell tickets for the screenings. Rather, they sold concession vouchers so that fans could reserve seats. That means Netflix won't have any box office to report, technically speaking, but theaters got a whole lot of concession money out of the deal. As AMC CEO Adam Aron noted in an official statement:

"Consumer demand was so high that AMC repeatedly and exponentially added thousands of additional showtimes across its participating locations. In the end, AMC had more than nine times the available seating capacity allocated to 'Stranger Things' than was originally envisioned. The admissions price was free, but required the mandatory purchase of a $20 per-person food and beverage credit. As a result, AMC collected more than $15.0 million in just two days from 'Stranger Things' showtimes."

This falls right in line with Netflix's general strategy of prioritizing streaming and not caring about the box office. "KPop Demon Hunters" also got a theatrical release in 2025, but it was very limited. Similarly, this was a two-day event that generated a lot of buzz yet came with some caveats. For one, Netflix went this route in part because it didn't have deals with the "Stranger Things" cast for box office residuals. 

By selling concession vouchers, there wasn't technically any money for the "Stranger Things" cast to squabble over. Streaming residuals have already been a sticky issue for years, and this, in some sense, feels like a way for Netflix to get around paying people.

Granted, Netflix isn't taking any of the money either. Yet, in the short term, it was great for theaters. I can attest that the Cinemark I saw "Marty Supreme" at on New Year's Day was packed, particularly the concessions lines. Theaters all across the country were fully booked. The numbers suggest that if Netflix had done a full weekend, the "Stranger Things" series finale could have done "Sonic the Hedgehog 3" numbers at the box office (or, roughly, a $60 million opening). That's incredible for something that people could've easily streamed at home.

AMC and Netflix have historically had squabbles that've prevented Netflix movies from playing on the chain's screens, but they're now finding ways to collaborate. That's good, seeing as Netflix is in the process of buying Warner Bros. The concern is that Netflix will bring WB movies to streaming much sooner, which could seriously impact the box office. For now, though, AMC seems happy. Speaking further, Aron discussed the prospect of AMC working with Netflix more in the future:

"Our company is excited about the prospect of taking more Netflix content to theatre goers, and I might add that the working relationship between the two companies in our two recent projects has been easy, creative, and seamless. 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" series finale is streaming on Netflix.