Letterboxd Suitors Include A24 and New York Times; Sale Could Value Social Movie Platform at $300 Million: Report

A bidding war is brewing for Letterboxd, the popular film-reviews and social service that has been fielding inbound acquisition offers for months.

Indie studio A24 and the New York Times are the latest to express an interest in buying Letterboxd, according to a New York Times report citing anonymous sources. Any deal is “expected to value Letterboxd at more than $300 million,” per the report. That would be about 20 times its projected earnings in 2026 of roughly $15 million, according to the Times.

A24 declined to comment. Reps for the New York Times, Sony Pictures and Letterboxd did not immediately respond to requests for comment.

Letterboxd, founded in 2011 and based in New Zealand, has been shopping itself to interested parties in recent months. It is majority-owned by Canadian holding company Tiny, which acquired a 60% stake in Letterboxd in 2023 at a valuation of $50 million-$60 million. Letterboxd co-founders Matthew Buchanan and Karl von Randow own the remaining 40% share.

Letterboxd has more than 30 million members globally and serves a passionate base of movie lovers; it also has launched an online video-rental service stocked with films including previously unreleased titles.