Netflix, Paramount, Sony and Others Reportedly in Talks to Buy Letterboxd
The film-focused social network Letterboxd is seeking new ownership, with major studios and investors including Netflix, Sony, and Paramount among interested parties.
Letterboxd, the movie-centric social network, may soon have a new majority owner. According to reports, potential buyers include Netflix, Sony Pictures, Paramount, private equity firm TPG, and Reddit co-founder Alexis Ohanian. Earlier this year, Fandango and Rotten Tomatoes owner Versant also expressed interest.
Holding company Tiny currently holds a 60% stake in Letterboxd, acquired in 2023 at a valuation of around $50 million. Co-founders Matthew Buchanan and Karl von Randow own the remaining 40%. Investment bank Liontree is managing the sale, which reportedly values Letterboxd at $250 million.
The platform has experienced rapid growth, from 6.5 million members in August 2022 to 30 million now, with 10 million joining last year alone. However, if a major studio or distributor such as Netflix, Sony, or Paramount takes over, concerns about a conflict of interest may arise, as Letterboxd is a key destination for film discussions. Rotten Tomatoes faced similar scrutiny when it was under NBCUniversal's umbrella.
