The New York Times Company is in exclusive negotiations to purchase Letterboxd, the cinephile online platform, for approximately $330 million. This price significantly exceeds earlier discussions of $250 million. While talks remain ongoing and could collapse, the acquisition would mark a strategic expansion for the Times Company into social film discovery.
Letterboxd, which has 30 million members and projected 2026 revenue of $15 million, would continue as a standalone site. The New York Times Company could integrate its advertising technology into Letterboxd's systems. Unlike Hollywood studios, the Times Company presents no conflict of interest, aligning with its mixed ad and subscription revenue model.
With 13.8 million NYT subscribers and a goal of 15 million by next year, Letterboxd could complement existing puzzle games and The Athletic. Tiny, a Canadian investment group, acquired 60 percent of Letterboxd in 2023. Notable community members include filmmaker Martin Scorsese.
Source: Engadget · Summarized by HeadlinesBriefing