PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Letterboxd Is On The Auction Block
Courtesy of Letterboxd
Canadian holding company Tiny is looking to sell Letterboxd — the film-focused platform that has become one of the rare social media triumphs of the decade.
The Big Picture: Since the pandemic, Letterboxd has become the digital hub for cinephiles around the world, skyrocketing from 1 million users to 26 million in just five years. Whoever gets the chance to snap up the platform — co-founder Matthew Buchanan has veto rights over any buyer — will hold the keys to one of the most concentrated communities of film fans under the age of 24.
Behind The Scenes: Letterboxd wants to log some suitors.
Tiny, which owns a 60% stake in the platform, has tapped investment bank LionTree to help facilitate a deal at a potential $50 million valuation.
The holding company, which purchased Letterboxd through its venture fund in 2023, says the platform is one of the fund’s biggest revenue drivers.
The company has already held discussions with Versant (the cable-asset spinoff from NBCUniversal) and media startup The Ankler, although the first round of those talks fell apart last year.
Final Credits: Letterboxd proudly goes against the grain of social platforms, with a relatively low-fi UI, no personalized algorithm, and monetization through basic ads. But that hasn’t stopped it from being a hit — Martin Scorsese and Charli XCX are power users, its “Letterboxd’s Four Favorites” videos often go viral, and it has even rolled out a digital video store to support festival favorites and cult classics.
Basically, the platform is in the perfect position to level up. Now it’s about finding an owner with the muscle and vision to make it happen.
Coming Soon: It’s possible that an ambitious indie studio like A24 or Neon could make a play for the company, giving them a powerful marketing engine to reach their core audience.
Together with Tello
Tello To Your Next Wireless Plan
Tired of paying for mobile features you don't actually use? Of course you are!
With Tello, that definitely stops today because you only have to pay for what you actually use.
Tello doesn't do one-size-fits-all, because let's be honest, everyone’s needs are different.
You have the flexibility to build your own phone plan: no contracts, no bloated bundles, no headaches.
Enjoy reliable coverage on America’s largest 5G network for way less than you're used to.
Pick what works for you: You're a data surfer? Then go all-in with the Unlimited EVERYTHING plan at $25/mo. Not so into social media scrolling? Grab the 10GB plus Unlimited Mins & Texts for $15/mo, or keep it lean with 2GB plus Unlimited Mins & Texts for only $10/mo.
Neither of those will break your bank, but it's amazing to be able to only pay for what you actually need.
Flexible, affordable, and easy to switch.
PARTNERSHIPS | COMMUNITY | PODCAST | FRIENDS
Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.