We propose a quantitative effective medium theory for two types of acoustic metamaterials constituted of a large number N of small heterogeneities of characteristic size s, randomly and independently distributed in a bounded domain. We first consider a “sound-soft” material, in which the total wave field satisfies a Dirichlet boundary condition on the acoustic obstacles. In the “sub-critical” regime sN = O(1), we obtain that the effective medium is governed by a dissipative Lippmann-Schwinger equation which approximates the total field with a relative mean-square error of order O(max((sN)^2N^(-1/3),N^(-1/2))). We retrieve the critical size s ∼ 1/N of the literature at which the effects of the obstacles can be modelled by a “strange term” added to the Helmholtz equation. Second, we consider high-contrast acoustic metamaterials, in which each of the N heterogeneities are packets of K inclusions filled with a material of density much lower than the one of the background medium. As the contrast parameter vanishes, δ → 0, the effective medium admits K resonant characteristic sizes (si (δ))1≤i≤K and is governed by a Lippmann-Schwinger equation, which is diffusive or dispersive (with negative refractive index) for frequencies ω respectively slightly larger or slightly smaller than the corresponding K resonant frequencies (ωi (δ))1≤i≤K . These conclusions are obtained under the condition that (i) the resonance is of monopole type, and (ii) lies in the “subcritical regime” where the contrast parameter is small enough, i.e. δ = o(N^(-2)), while the considered frequency is “not too close” to the resonance, i.e. N δ 2 = O(|1 − s/si (δ)|). Our mathematical analysis and the current literature allow us to conjecture that “solidification” phenomena are expected to occur in the “super-critical” regime N δ 2 |1 − s/si (δ)|−1 → +∞.