NY Times in Exclusive Talks to Purchase Film‑Lover Platform Letterboxd for $330 Million

NY Times Company has entered exclusive negotiations to acquire Letterboxd for about $330 million, reports the newspaper itself. Letterboxd, a social network where users log and discuss movies, grew from 3 million members in January 2021 to 28 million by April this year. Over half of those users are under 35. The platform remains free, but offers premium features through a subscription. Projected earnings for the current year are roughly $15 million, just 4.5 percent of the proposed purchase price.

Reaction

The Times declined comment through its own channels. NYT spokesperson Charlie Stadtlander also declined to comment, while Letterboxd and its parent Tiny Ltd. have not responded. Earlier reports said film studios Sony Pictures Entertainment and A24 were interested; A24 was reportedly priced out of the deal.

What’s Next

Negotiations may allow Letterboxd’s co‑founders to stay in charge, reporting to a Times executive, and the service is expected to operate as a standalone entity for the foreseeable future. Integration of the Times’ advertising technology is likely. If the deal closes, it joins previous Times purchases such as Wordle, Wirecutter and The Athletic.

Context

Acquisitions like this let large media firms add niche communities to their audience base and boost ad reach. Letterboxd’s strong growth among younger movie fans makes it a valuable addition for the Times’ digital strategy.