Netflix took a major gamble by screening the series finale of Stranger Things in theaters for a one-night-only event on Dec. 31, 2025, but it’s a gamble that looks to have paid off. Reports estimate that the event scored at least $25 million for movie theaters and potentially as much as $30 million, based solely on the one-time screening. The Netflix model has changed in recent years with its exclusive films, as some have started landing in theaters weeks before their Netflix debut, though this one-time-only event was a bit of a unique scenario due to a variety of factors.
As reported by Deadline, calculating the official figure that movie theaters earned is a bit tricky, as traditional ticket sales cannot be calculated. With the series finale of Stranger Things not being a traditional movie, contractual obligations with the cast and crew prevented movie theaters from selling standard tickets to the event. Instead, theaters sold vouchers for concessions that granted entry to the screening.
Complicating things further is that there wasn’t one standard fee that all theater chains were charging, nor were the concession offerings the same. Cinemark and AMC, for example, charged $20 for a concession voucher, though Regal Cinemas charged $11, which was a nod to the character Eleven, played by Millie Bobby Brown.
Final ‘Stranger Things’ Numbers Haven’t Been Revealed
With it having only been days since Stranger Things came to an end, audiences will have to wait to see just how huge of a success the event was, both in regard to theatrical vouchers and streaming numbers, as it’s likely that there are significant portions of viewers who haven’t even been able to catch up on the series due to the holidays.
In the age of streaming, there have been many philosophical debates about the theatrical experience, with Stranger Things only being the latest chapter in the discourse. There was understandably a case to be made for Netflix exclusives released pre-pandemic to come to theaters, allowing audiences to immerse themselves in a film’s craft more wholly than just by streaming it on their TVs, but with the service hoping to secure as many subscribers as possible, it’s easy to see why they were opposed to the theatrical format.
In 2020, things got complicated with streaming vs. theatrical releases, as the coronavirus pandemic understandably shuttered theaters, resulting in titles that were massive moneymakers for studios being relegated to streaming. While it’s easy to see why a studio like Warner Bros. would opt to release its entire 2021 slate to HBO Max the same day a movie hit theaters, making these titles accessible to more audiences, a movie’s cast and crew had their compensation impacted if ticket sales were factored into their contract.
Recent Netflix movies like Wake Up Dead Man: A Knives Out Mystery and Frankenstein were moderate theatrical successes, yet failed to become major earners. This is understandable, as more casual audiences likely waited to watch these titles at home, but for one episode of a TV show to be available on the big screen and earn theaters nearly $30 million confirms there’s an audience passionate about experiencing storylines designed for the small screen in a communal format.
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