Letterboxd, the social platform where film enthusiasts log their cinematic consumption with the same fervor that others reserve for tracking macros, has reportedly caught the eye of potential buyers. Canadian holding company Tiny, which owns about 60 percent of the site, is apparently looking to cash out on its investment after seeing the platform's user base explode from a niche 1.7 million in 2020 to a robust 26 million this year - driven largely by Millennials and Gen-Z who apparently have strong opinions about everything from 'Parasite' to 'Paddington 2.'
Semafor reported Sunday that Tiny has been courting potential buyers including Versant, the parent company of CNBC and MS NOW (formerly MSNBC), and The Ankler, a popular Hollywood newsletter. Tiny bought Letterboxd in 2023, valuing it at over $50 million, though it's unclear if any deal is imminent. Representatives for Letterboxd and Tiny did not immediately provide comment, presumably too busy arguing about the correct rating for 'The Godfather.'
Founded in 2011, Letterboxd has evolved from a haven for obsessive cinephiles into a legitimate marketing tool for movie studios and even the Oscars, which partnered with the platform for digital content a few years ago. Because nothing says 'prestigious film award' like a partnership with a site where users can rate 'Citizen Kane' as half a star as a joke.