Cinemas exit slow 2025 as ‘Stranger Things’ heads to big screen
The domestic box office delivered tepid growth in 2025, with cinemas struggling to return to prepandemic sales.
U.S. and Canadian theaters took in $8.76 billion this year through Dec. 28, an increase of 1.6% from 2024, according to researcher Comscore Inc. The full-year record of $11.9 billion was set in 2018.
Two Walt Disney Co. films – Avatar: Fire and Ash and Zootopia 2 – led in the final days of the year. The top 10 pictures of 2025 were once again dominated by sequels from existing franchises. Warner Bros. Discovery Inc. delivered the two exceptions: A Minecraft Movie finished No. 1 in domestic ticket sales and Sinners, an original horror film from director Ryan Coogler, came in seventh.
Shares of AMC Entertainment Holdings Inc., the largest US theater chain, have declined almost 60% this year. It now trades below $2 after going as high as $450 in June 2021 during the meme-stock frenzy.
The future of theaters has been in hot debate as Paramount Skydance Corp. seeks to acquire Warner Bros., which has accepted a competing offer for its studios and streaming business from Netflix Inc. Paramount has argued its merger would be better for cinemas, since Netflix has historically released just a fraction of its films for limited theatrical runs. The streaming leader has promised to continue to release Warner Bros. films in theaters if it prevails.
“Our attention will be laser-focused on one issue and one issue only,” AMC Chief Executive Officer Adam Aron said in November on a call with investors. “And that is the count of movie releases that’s coming out from studios. Clearly, if it’s more movies, that’s good for AMC, and if it’s less movies, that’s not as good for AMC.”
In a special promotion, Netflix is putting the final episode of its TV show Stranger Things in theaters for two days starting Dec. 31. The seats are free but attendees must purchase concessions in advance. The price varies by theater chain.
Over 1.1 million fans had reserved spots according to Ross Duffer, one of the show’s creators, as of Dec. 29. The promotion was put in place before Warner Bros. accepted Netflix’s offer.