Letterboxd reportedly exploring sale as film platform grows to 26 million users

Letterboxd, the social platform for film enthusiasts, is reportedly looking for a new owner. Semafor reported Sunday that Canadian holding company Tiny, which owns approximately 60 percent of Letterboxd, has been courting various potential buyers. Among the potential buyers named are Versant, the parent company of CNBC and MS NOW, and The Ankler, a popular Hollywood newsletter. Tiny bought the platform in 2023, valuing it at over $50 million. It is unclear whether the company has neared any sort of deal. Representatives for Letterboxd and Tiny did not immediately provide comment when reached by TechCrunch. Founded in 2011, Letterboxd saw a jump in users in the past few years, climbing to about 26 million users this year, up from 1.7 million in 2020, according to The New York Times. The site allows users to rate, review, and recommend movies to one another. In recent years, the site has drawn interest from movie studios, which see it both as a vehicle for marketing films and a source of information about moviegoer trends. The Oscars also teamed up with the social platform in a digital content partnership several years ago.