Reports have emerged that
the popular
movie-centric
social media app Letterboxd may soon be acquired by The New York
Times Company. The New York Times news
division broke the story earlier this week, saying that the companies were
engaged in late-stage, exclusive talks.
While the deal has not yet been finalized, the amount of the sale is
said to be approximately $330 million, 20 times the $15 million in earnings that
Letterboxd reported in 2025.
Rumors of a Letterboxd sale
have been swirling
for months, with A24, Sony
Pictures, and New York Times Company said to be considering the
opportunity to reel in the social media platform. Letterboxd has grown rapidly in popularity
over the last few years, now having amassed over 30 million global users. Each user on the platform is encouraged to share
their thoughts on movies by posting reviews and choices for their four favorite
films, known as the “Letterboxd Four”.
The platform has been credited with drawing
Gen Z back to movie theatres, a demographic that has well-represented
in this year’s box office recovery. In
recent years, The New York Times Company has diversified from its traditional news
business with acquisitions of Wordle (games), Wirecutter (consumer reviews) and
The Athletic (sports commentary). An
acquisition of Letterboxd would be another example of this strategy.
