The North American box office experienced a strong holiday period, with films such as Avatar: Fire and Ash, The Housemaid, Marty Supreme, Anaconda, and Zootopia 2 contributing to theatrical revenue. During this period, the highest single-day gross was recorded not by a film, but by the series finale of the Netflix television show Stranger Things.
Theatrical Release of Stranger Things Finale
Netflix arranged for the feature-length Stranger Things finale episode to be screened in theaters concurrently with its streaming debut. Estimates for the 24-hour theatrical run, beginning New Year's Eve, suggest figures around $25 million, with some projections exceeding $30 million. This performance surpassed most individual daily grosses of Avatar: Fire and Ash after its opening weekend.
The financial reporting for this event presents complexities. Netflix does not publicly disclose box office figures for its theatrical releases. Furthermore, due to contractual agreements, tickets for the Stranger Things finale screenings were technically complimentary. Attendees typically purchased $20 concession vouchers to secure their seats. This model allowed exhibitors to retain the entirety of these concession voucher sales, contrasting with standard film distribution agreements where revenue is shared with distributors.
Evolving Theatrical Release Strategies
Distributors and theater chains are implementing diverse strategies to support the cinema business, which has seen increasing dominance by large event films with variable box office returns. This includes incorporating non-traditional content into theatrical schedules.
Examples of such content include:
- Broadway Productions: Filmed versions of popular Broadway shows like Hamilton and Merrily We Roll Along have been screened nationwide.
- Music Events: Taylor Swift's album release event for The Life of a Showgirl generated approximately $50 million globally from a presentation featuring a new music video, lyric videos, and behind-the-scenes footage. K-pop group BTS released a series of remastered concert films. Netflix also arranged theatrical engagements for its popular feature KPop Demon Hunters.
- Special Engagements: The KPop Demon Hunters release included an agreement with AMC, a major U.S. cinema chain that has historically had a cautious relationship with Netflix, having previously screened only Glass Onion for a single week before 2025.
- Targeted Re-releases: Distributors such as Fathom regularly release classic films nationally. Studios like Universal have utilized slow periods to re-release titles such as Back to the Future and Jaws on Imax screens. Some multiplexes, including certain Regal chain locations, have established programs featuring daily screenings of older films, spanning various genres and eras.
Shifts in Entertainment Consumption
A notable trend is the theatrical exhibition of content traditionally associated with home viewing, such as sports, television series, and classic films. Simultaneously, numerous feature films featuring prominent actors are being released directly to streaming platforms. This dynamic suggests that streaming services have influenced audience expectations, leading some viewers to anticipate content availability on streaming and altering the immediacy of theatrical attendance for certain films. Despite these shifts, a demand persists for communal out-of-home entertainment experiences.
Factors Influencing Theatrical Attendance
Several factors contribute to the continued appeal of theatrical viewing:
- Affordability: The cost of admission for a theatrical presentation can be more accessible than tickets for live music concerts or major sporting events.
- Communal Experience: The shared environment of a cinema, often equipped with superior sound systems, provides a distinct experience compared to home viewing.
- Shortened Theatrical Windows: Contemporary film releases often become available for home rental within two to three weeks of their theatrical debut, a significant reduction from previous timelines that could span several months to a year before home video availability. This accelerated availability may reduce the perceived urgency to see new films immediately in theaters. However, this also normalizes the concept of paying for content that may be available elsewhere, such as Hamilton, which was streaming on Disney+ prior to its theatrical screenings.
For some viewers, attending theatrical screenings, whether for new films, rereleases like Jaws, or events like the Stranger Things finale, represents a choice driven by a preference for the communal experience and the specific environment of the cinema. While a segment of moviegoers prioritizes the experience of viewing new and unknown films theatrically, others engage with screenings of familiar content, such as fans attending KPop Demon Hunters to participate by singing along.