‘Stranger Things 5’ Finale to Hit Theaters on New Year’s Day

Is Netflix starting to embrace theatrical? What’s going on here?

It’s been announced that the upcoming “Stranger Things 5” finale, which runs over two hours, will be released in theaters. Screenings will take place on more than 400 screens across North America starting December 31, 2025, at 8 p.m. ET — the same time the series finale drops on Netflix globally.

It was just a few weeks ago that Netflix’s Chief Content Officer Bela Bajaria dismissed the idea of giving the series finale a theatrical bow, saying, “I think releasing [Stranger Things] on Netflix is giving the fans what they want.” Something seems to have changed since then.

If you remember, “Stranger Things” creators Matt and Ross Duffer recently decided not to renew their contract with Netflix, and moved to Paramount — reportedly because Netflix refused to commit to giving their future movie projects theatrical releases.

Premiering a TV episode simultaneously in theaters and on streaming is nearly unprecedented. The move mirrors the day-and-date release model used in film distribution, where movies debut in theaters and on streaming or VOD platforms at the same time.

This short-window theatrical run follows the streamer’s announcement that it would re-release “KPop Demon Hunters” in theaters for an entire week starting October 30. You also have Guillermo del Toro’s “Frankenstein” expanding nationwide tomorrow. Rian Johnson’s ‘Wake Up Dead Man’ has also committed to a 500+ screen run in November.

This news comes months after Netflix chief Ted Sarandos infamously called movie theaters an“outdated concept,” but the tide may be shifting. Has pushback on those comments given Sarandos some pause for thought? He also recently decided that Greta Gerwig’s upcoming “Narnia” would hit more than 2,000 screens next year, in partnership with IMAX.

It’s also worth noting that AMC recently lifted its boycott of Netflix releases — the chain will be showing “KPop Demon Hunters” nationwide at the end of the month. Something’s going on, maybe, or it could just be wishful thinking on my part.