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

Letterboxd, a social media platform for film enthusiasts, is reportedly seeking a new owner. The Canadian holding company Tiny, which acquired a 60% stake in Letterboxd in 2023 at a valuation exceeding $50 million, is currently exploring potential buyers.

Semafor reported that Tiny has approached various entities, including Versant, the parent company of CNBC and MS NOW (formerly MSNBC), and The Ankler, a Hollywood newsletter. As of the TechCrunch report, it remains unclear if any deals are close to completion. Representatives for both Letterboxd and Tiny declined to provide immediate comment to TechCrunch regarding these reports.

Founded in 2011, Letterboxd has experienced significant growth in recent years, particularly among millennials and Gen Z. Its user base expanded from 1.7 million in 2020 to approximately 26 million users by 2024, according to The New York Times. This surge in popularity has attracted interest from movie studios, which utilize the platform for film marketing and to gather insights into moviegoer trends. The Oscars also previously engaged in a digital content partnership with Letterboxd.

The article's primary source for the acquisition news is Semafor, with additional context regarding user growth attributed to The New York Times. TechCrunch itself reported on these developments but did not independently confirm the sales discussions with Letterboxd or Tiny. The information presented indicates a potential change in ownership for a platform that has transitioned from a niche interest site to a significant player in film-related social media.