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New York Times in exclusive talks to buy Letterboxd for $330m
The New York Times Company is reportedly in exclusive negotiations to buy Letterboxd for about $330 million, which would be a significant expansion of its digital offerings. The deal is not final and could still fall through; Letterboxd would reportedly remain a standalone site for the foreseeable future.
Letterboxd has 30 million members who use it to log, rate and review films, and is projected to generate $15 million in revenue in 2026. Canadian investment group Tiny bought 60 per cent of the company in 2023 and reportedly began seeking a buyer this year at a valuation of about $250 million. The Times Company could bring its advertising technology to the platform, while its existing mix of subscriptions and advertising may complement Letterboxd’s business.
In short
- The Times Company is reportedly discussing a $330 million Letterboxd purchase.
- The deal could still fall through.
- Letterboxd would reportedly keep operating independently.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The acquisition could give the Times Company a valued film community and broaden its digital business, while Letterboxd could gain access to the company’s audience, advertising technology and resources. Keeping the site standalone could preserve its identity while supporting its growth and helping diversify revenue for both businesses.
The case against
A $330 million price for a platform projected to earn $15 million in 2026 could be a substantial bet on future growth, especially as the deal is not yet final. Even if Letterboxd remains standalone initially, ownership by a large media company could bring pressure to change its advertising or business model in ways that unsettle members or weaken the qualities that make the community appealing.
Explained simply
Letterboxd is an online community where people record the films they watch, give ratings and write reviews. It has about 30 million members and is expected to make around $15 million in revenue in 2026.
The New York Times Company owns the New York Times and other digital products, supported by subscriptions and advertising. Canadian investment group Tiny bought a majority stake in Letterboxd in 2023; a sale would bring the film community under a larger media company while it is expected to keep operating as a separate site for now.
The reported price is much higher than the valuation Tiny was said to be seeking earlier this year. The potential purchase matters because it could add a large, film-focused audience to the Times Company’s digital business and give Letterboxd access to its advertising systems.
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Originally published by Engadget as “The New York Times Company is reportedly trying to buy Letterboxd for $330 million”.