Letterboxd Is Up for Sale, and A24, Sony and the New York Times Are Bidding

Letterboxd, a popular film-focused social platform with 30 million users, is being auctioned for over $300 million, with bidders including The New York Times, A24, and Sony Pictures. The valuation represents roughly 20 times the site's projected annual earnings, reflecting its appeal as an engaged, monetizable audience attractive to media companies and advertisers. Founded in 2011 by two New Zealand designers, Letterboxd has grown dramatically from 1.8 million users in 2020 through a combination of free access, premium subscriptions, and advertising revenue.