Netflix has quietly delivered a major New Year’s win for movie theaters through the big-screen rollout of the ‘Stranger Things’ series finale.
While the event wasn’t ticketed in the traditional sense, it still generated serious revenue for exhibitors. Reports indicate the limited theatrical play brought in more than $25 million, with estimates climbing toward $30 million, thanks to mandatory concession vouchers tied to reserved seating.
The screenings rolled out across more than 600 locations during New Year’s Eve and New Year’s Day.
As outlined by MarketWatch, the model allowed theaters to keep all proceeds, sidestepping traditional box office splits.
For many in the exhibition world, the experiment felt like a rare olive branch from a streamer long seen as a threat to cinemas, and a signal that Netflix may be open to more theatrical-style events moving forward.