At a Glance
- Stranger Things finale hit theaters on New Year’s Eve.
- 620 screenings generated $25-30 M in concessions, topping Netflix’s 2025 theatrical owners.
- Netflix is eyeing a 17-day theatrical window, half the industry norm.
- Why it matters: The finale’s success and Netflix’s potential policy shift could reshape how streaming giants collaborate with movie theaters.
The Stranger Things finale made a splash by opening in theaters on New Year’s Eve, pulling in impressive concession revenue despite Netflix’s usual reluctance to embrace the big screen. The 620 North American screenings raised $25-30 M in concession cash, eclipsing other Netflix releases this year. This performance fuels a debate over whether Netflix will adopt a shorter theatrical window for future films.
Concession Cash Breaks Records
The finale’s $25-30 M in concessions came from 620 screenings across North America, a figure reported by Deadline and other outlets. This amount places the episode ahead of KPop Demon Hunters as Netflix’s highest-earning theatrical property for 2025. More than half of all Stranger Things fans chose AMC theaters for the viewing experience.
- 620 screenings
- $25-30 M concession revenue
- >50% of fans at AMC
17-Day Window vs. 45-Day Standard
Sources speaking to Deadline say Netflix is considering a 17-day theatrical window for its potential films, less than half the 45-day window that Warner Bros. and other studios use. AMC and other exhibitors prefer the longer standard, arguing it supports a healthier theater ecosystem. If the shorter window is adopted, it could “steamroll” the movie-theater business, a concern highlighted by industry observers.
| Window Length | Current Industry Standard | Netflix Proposal |
|---|---|---|
| Days | 45 | 17 |
Netflix has yet to announce any concrete plans regarding a Warner Bros. acquisition, maintaining its December stance that business will remain as usual. However, the proposed 17-day window signals a potential shift in the streaming-theater relationship.
Key Takeaways
- The finale’s concession revenue tops Netflix’s 2025 theatrical earnings.
- More than half of fans watched the episode at AMC, underscoring theater appeal.
- Netflix’s 17-day window proposal could dramatically alter the theater landscape.
As the Stranger Things finale demonstrates, theatrical releases can still generate significant ancillary revenue, but Netflix’s upcoming policy decisions will determine whether the big screen remains a viable venue for its content.
