Stranger Things Finale Boosts New Year’s Box Office with $20–$25M Haul

On New Year’s Eve 2024, Netflix released Stranger Things: The Finale simultaneously on its platform and in roughly 600 cinemas worldwide, with many exhibitors holding encore screenings on Jan. 1. The limited theatrical run — driven by voucher and concession packages rather than traditional ticket reporting — generated an estimated $20 million to $25 million in revenue for theaters, according to box-office and exhibition sources. AMC, which represented more than a third of venues showing the episode, reported it earned about $15 million tied to the $20 food-and-beverage voucher program. The event marks a notable — and unusually cooperative — moment in Netflix’s relationship with theaters as the streamer winds down its long-term deal and industry deals shift.

Key Takeaways

• Estimated theatrical revenue for Stranger Things: The Finale: $20 million–$25 million, a new high for a Netflix theatrical experiment.
• Screenings: Roughly 600 cinemas booked the finale on Dec. 31, with AMC accounting for more than one-third of those locations (over 200 venues).
• Voucher program: The Duffer brothers reported 1.1 million vouchers sold; independent exit-polling firm EntTelligence recorded approximately 1.3 million admissions by Jan. 1.
• Pricing: AMC and Cinemark offered $20 vouchers (plus fees in some cases); Regal and several other chains used an $11 price point as a thematic nod.
• AMC reported roughly $15 million in revenue tied specifically to the $20 concessions credit sold for screenings.
• Comparable event: A summer sing-along special, KPop Demon Hunters, previously grossed about $18 million in theaters.

Background

Since its debut in 2016, Stranger Things has grown into one of Netflix’s flagship series, with season 4 registering more than 140.7 million global views and cementing the show as a cultural phenomenon. Netflix historically treats its series as streaming-first, occasionally testing theatrical windows for special events or finales, and has typically avoided traditional box-office reporting for such releases. Exhibition chains and the streamer have had strained dealings in the past over windows and revenue sharing, making cooperative events noteworthy.

In October, Netflix and the Duffer brothers announced that the series finale would be made available in cinemas in addition to streaming — reversing earlier comments that the ending would not play on the big screen. The Duffers have since signed a new four-year deal with Paramount for feature work after their Netflix contract concludes, a parallel development as studio consolidation and acquisition chatter (including interest around Warner Bros.) continues across the industry.

Main Event

On Dec. 31, the finale played in about 600 theaters, including a heavy concentration at AMC locations. Exhibitors marketed screenings through concession-voucher packages rather than standard box-office tickets: many patrons purchased vouchers that provided a $20 food-and-beverage credit redeemable at the venue. That approach shifted reported revenue from traditional ticket grosses to theater-managed voucher and concession sales.

AMC said its footprint — more than one-third of all participating sites — produced significant voucher-related revenue: the chain reported roughly $15 million tied to the $20 credits sold for the event. Other chains followed varied pricing strategies: Cinemark matched the $20 voucher price (plus fees in some markets) and Regal and several independent theaters used an $11 price point as a marketing tie-in to the series.

Industry trackers and the Duffer brothers provided different but broadly consistent participation figures. The Duffers posted that 1.1 million vouchers had been sold; EntTelligence’s exit-polling and attendance analysis tallied about 1.3 million admissions by New Year’s Day. Exhibitors later indicated they would publish consolidated voucher sales and attendance figures in the days following the event.

Analysis & Implications

The event underlines a shifting playbook for streamers and exhibitors that blends theatrical spectacle with streaming-first distribution. By selling voucher-driven concessions rather than relying on a conventional ticket-only window, theaters captured a larger slice of ancillary revenue (food and beverage) and created an eventized experience that drove premium per-guest spend. For exhibitors, the model reduced dependence on streaming-reported grosses while monetizing the communal cinema experience.

For Netflix, the experiment offered promotional value and a high-profile cultural moment without having to adopt standard box-office reporting practices. That has pros and cons: studios traditionally use theatrical grosses to market and build prestige for properties, while Netflix retains user and viewership control on its platform. The voucher approach let theaters claim concrete revenue while allowing Netflix to keep its streaming metrics central.

Financially, a $20–$25 million haul (industry-estimated) is modest compared with blockbuster theatrical releases but meaningful for a single-episode event and for chains recovering per-capita concession spending. If repeated, the format could open a recurring revenue stream for exhibitors for future streamer-driven finales and specials — though its scalability depends on title popularity and coordination between streamers and chains.

Comparison & Data

These numbers show the event produced substantial attendance and concession-driven revenue without a traditional box-office window. The difference between voucher counts (1.1M) and EntTelligence’s admissions (1.3M) likely reflects walk-up purchases, late reporting and methodology variations across data sources.

Reactions & Quotes

Exhibitors and creators framed the event as both a financial win and a cultural moment. Below are concise statements and context.

“Our year ends on a high: … Theatres are packed. Many sellouts but seats still available.”

Adam Aron, CEO, AMC Theatres (tweet)

Aron’s comments highlighted strong demand and signaled AMC’s role as a primary exhibitor for the event; the chain later said it would publish full voucher sales numbers.

“Getting to see it on the big screen, with incredible sound, picture and a room full of fans, feels like the perfect — dare we say bitchin’ — way to celebrate the end of this adventure.”

Matt and Ross Duffer (statement)

The Duffer brothers framed the theatrical screenings as an intentional fan experience, noting the collective and sensory benefits of cinema for a finale event.

“Preliminary exit-polling indicates roughly 1.3 million admissions by New Year’s Day.”

EntTelligence (research firm)

The research firm’s figure offered an independent attendance check on creators’ voucher totals and exhibitors’ early tallies.

Unconfirmed

• Exact consolidated voucher sales and total revenue across all chains remain unconfirmed until exhibitors publish finalized tallies.
• Precise split of overall $20–$25 million estimate between ticket-equivalent revenue and concession redemptions is not publicly audited.
• Longer-term implications for future streamer-to-theater event frequency and contractual terms between Netflix and major chains are still speculative.

Bottom Line

Stranger Things: The Finale’s limited theatrical push created a notable, if atypical, box-office moment for a streamer-led event. Using voucher-driven concession packages let exhibitors capture immediate revenue and claim a commercial win without requiring Netflix to adopt conventional theatrical reporting. For theaters, the model demonstrated a way to monetize high-profile streaming content and reassert the value of communal screenings.

For the industry, the episode is a case study in hybrid distribution: it shows streamers and exhibitors can cooperate on eventized releases that reward both sides, but it also highlights the data and transparency challenges that arise when traditional box-office metrics are bypassed. Watch for final exhibitor tallies and any follow-up deals between streamers and chains to determine whether this becomes a repeatable model for premieres or finales.

Sources

• The Hollywood Reporter — Entertainment trade reporting on theatrical bookings and industry data.
• AMC Theatres (Twitter) — Official exhibitor statements and CEO tweets (company source).
• Netflix (Newsroom) — Official streamer announcements regarding distribution and the creators’ statement.