New York Times Enters Exclusive Talks to Buy Letterboxd for $330 Million
The New York Times Company is reportedly in exclusive talks to buy Letterboxd for $330 million after the film platform reached 28 million users in April.
Summary
The New York Times Company reportedly entered exclusive negotiations to acquire Letterboxd for $330 million as of November 5, 2026. The movie community platform had been seeking a buyer, with Sony and A24 also interested, but A24 was priced out.
Letterboxd grew from 3 million users in January 2021 to 28 million in April 2026, and more than half its users are under 35. The service is free, with advanced features sold through subscriptions, and projects $15 million in 2026 earnings, about 4.5% of the proposed purchase price. The New York Times Company declined to comment, leaving the transaction unconfirmed with no closing timetable disclosed.
Positives
- Letterboxd expanded from 3 million users in January 2021 to 28 million by April 2026.
- More than half of Letterboxd users are under 35, giving a buyer access to a large younger audience.
- Paid subscriptions generate revenue alongside Letterboxd’s free service, with 2026 earnings projected at $15 million.
- Sony and A24 also showed acquisition interest, indicating demand for Letterboxd among major media companies.
- Exclusive negotiations move The New York Times Company closer to acquiring the platform than competing bidders.
Risks & concerns
- The $15 million earnings projection equals only about 4.5% of the proposed $330 million purchase price.
- The New York Times Company declined to comment, so the acquisition remains unconfirmed.
- A24 was priced out, indicating Letterboxd’s valuation exceeded at least one interested buyer’s limit.
- No final agreement, transaction terms beyond the proposed price, or closing timetable has been disclosed.