Letterboxd Sale Asking Price Hits $300 Million
The asking price for movie social platform Letterboxd has risen to $300 million, with The New York Times, A24, Sony Pictures, and private equity firms
Letterboxd's asking price has increased to $300 million as The New York Times, A24, Sony Pictures, and private equity firms explore acquisitions. The original story about the platform being for sale was published in July. The New York Times is a potential buyer for more than $300 million. Sony Pictures Entertainment has also explored a possible acquisition. The asking price was previously $250 million.
Private equity companies are among the potential bidders. Netflix was reported to be interested in purchasing Letterboxd at the end of last week. Indie studio A24 has expressed interest. Most important Skydance and private-equity giant TPG have explored a possible acquisition as well. Any deal is expected to value Letterboxd at more than $300 million. The sale process is being handled by investment bank LionTree.
Background
Founded in New Zealand in 2011, Letterboxd is a social movie diary with over 30 million members, majority-owned by Canadian holding company Tiny since its 60% stake acquisition in 2023. Co-founders Matthew Buchanan and Karl von Randow own the remaining 40% share and remain involved with the platform. Tiny's acquisition in 2023 valued the company at roughly $50 million to $60 million.
The platform is based in Auckland. It serves a passionate base of movie lovers who log viewing habits, discuss star ratings, and create lists. Letterboxd has been fielding inbound acquisition offers for several months. It has also launched an online video-rental service that includes previously unreleased titles.
Valuation and Market Context
A sale above $300 million would value Letterboxd at roughly 20 times its projected 2026 earnings of $15 million. This multiple reflects strong growth expectations for the film-centric social platform.
Reactions and Statements
Founders Matthew Buchanan and Karl von Randow remain involved. A representative for A24 declined to comment on the potential acquisition. Representatives for The New York Times did not immediately respond to requests for comment.
Katie Hill, the SVP, Global Head of Communications and External Affairs at The New York Times, stated that the company regularly reviews potential investments and does not comment on speculation about acquisitions or divestitures. In July, a Letterboxd spokesperson said, "As Letterboxd has grown, it's natural there will be interest in what we do next."
Early meetings regarding the sale have taken place. There is no clear frontrunner in the bidding process yet. One user, Ryan, commented on the situation, saying, "in the end, everything nice will be owned by a billion dollar corporation and/or a billionaire."
