Letterboxd, the social platform for film buffs, reportedly looking for new owner

Source: TechCrunch

Image Credits: Letterboxd

Letterboxd has surged in popularity in recent years. Once a niche site for only the most fervent of film nerds, the platform—allowing users to rate, review, and recommend movies—has continued to add accounts by the tens of millions, thanks largely to interest from millennials and Gen Z. Now, the company’s controlling investor has apparently signaled that they are looking to cash out.

Semafor reported that Canadian holding company Tiny, which owns about 60 % of Letterboxd, has been courting various potential buyers, including Versant, the parent company of CNBC and MS NOW (formerly MSNBC). Another potential buyer is The Ankler, a popular Hollywood newsletter. Tiny bought the platform in 2023, valuing it at over $50 million. It’s unclear whether any deal is close.

Representatives for Letterboxd and Tiny did not immediately provide comment when reached by TechCrunch.

Founded in 2011, Letterboxd saw a jump in users in recent years, climbing to about 26 million users this year, up from 1.7 million in 2020, according to The New York Times. The site has also attracted interest from movie studios, which view it as both a marketing vehicle and a source of data on movie‑goer trends, as well as from the Oscars, which partnered with Letterboxd for a digital content collaboration several years ago.