Inside Netflix and AMC’s newfound collaboration for ‘Stranger Things,’ ‘KPop Demon Hunters,’ and more
Netflix and AMC Theatres didn’t see eye-to-eye for the longest time. But that’s only until tabloids recently lit up with the news of the world’s largest theatrical chain agreeing to screen KPop Demon Hunters in 300 theatres over the Halloween weekend.
AMC Theatres had long been averse to the idea of scheduling movies from Netflix, primarily due to their disagreement over the length of time a film should remain exclusively available on the big screen. However, in recent times, the two companies have seemingly softened their stance.
“For a long time, Netflix’s primary interest in getting its movies into theatres was for awards consideration or appeasing talent. Netflix has more interest now in trying to maximise reach,” says analyst Alicia Reese, VP of equity research at Wedbush Securities. While the streaming giant might be seeking more theatrical visibility, AMC is not the one to say no to a hit (via Variety).
With box office revenues 20% behind COVID-19 times, no theatrical chain would say so. However, AMC Theatres was the only exhibitor that didn’t screen KPop Demon Hunters when Netflix agreed to roll out a sing-along version of the movie the first time around in August. In an unprecedented box office success, the film surpassed all its theatrical competitors, grossing approximately $18million over the weekend.
Despite AMC’s desperate requirement for more movies to screen, it never considered strengthening its partnership with Netflix for years. Only one of its releases, Rian Johnson’s Knives Out sequel, Glass Onion, had been played at AMC in 2022. However, after AMC recently released a statement saying that both companies are “intrigued by the mutually beneficial opportunities that could arise,” it seemingly feels like it has had a change of heart.
Netflix also agreed to a two-hour screening for the Stranger Things finale, which is set to debut in AMC Theatres alongside other locations on New Year’s Eve and New Year’s Day when the episodes drop on the platform. According to outsiders, the reason could be two-fold behind the change. It could either be a late realisation on Netflix’s part or its reaction to losing Duffer Brothers to Paramount and Emerald Fennell’s Wuthering Heights to Warner Bros.
Netflix, however, doesn’t consider theatrical releases a part of its financial strategy. Instead, multiplexes act as a marketing stunt to garner more streaming interest back to their home ground. With AMC Theatres now pitching in for Netflix releases, the streamer can count on expanded theatrical reach, and AMC can count on additional revenues during these times. Besides these, there could be other strategies as well, worked out between the two.
Greta Gerwig’s Narnia adaptation, which will get a two-week IMAX run in AMC and other locations, can potentially get a theatrical release beyond the premium format. In fact, Netflix is also considering a powerful stance for David Fincher’s The Adventures of Cliff Booth. But since Narnia is scheduled for next November and Cliff Booth for the summer of 2026, the plans won’t be confirmed until the release dates are closer.
Just because Netflix has been warming up to theatrical rollouts, it doesn’t mean every movie will enjoy a big-screen exposure. Wake Up Dead Man: A Knives Out Mystery will only qualify for an awards-qualifying run in the theatres. One of the theatre owners predicts that Netflix isn’t really working towards announcing a theatrical slate like Amazon MGM. Instead, it “will be selective when they have something special,” and that makes sense.