Letterboxd, the popular social network for film enthusiasts to rate and review cinema, is in early-stage discussions with multiple potential buyers including Netflix, Sony Pictures Entertainment, Paramount, private-equity firm TPG, and venture capitalist Alexis Ohanian. The platform, founded in 2011 and majority-owned by Canadian investment company Tiny since 2023, has recently diversified into online video rentals and grown substantially over the past year, now reaching more than 30 million registered users globally.

Investment bank LionTree is orchestrating the sale process with an asking price around $250 million for the platform. The potential acquisition has prompted industry observers to raise questions about conflicts of interest if entertainment corporations acquire a major film-rating service—a concern previously levelled at NBCUniversal's ownership of Rotten Tomatoes—though Letterboxd's rapid expansion and established user base make it an attractive strategic asset for companies seeking to strengthen their streaming ecosystems.