News Summary

Letterboxd, a popular social platform for film enthusiasts, is reportedly up for sale. The Canadian holding company Tiny, which owns a 60% stake in Letterboxd, is exploring potential buyers for the platform. Tiny acquired Letterboxd in 2023, valuing it at over $50 million. The platform has seen significant growth, reaching about 26 million users in 2023, up from 1.7 million in 2020. Potential buyers include Versant, the parent company of CNBC and MS NOW, and The Ankler, a Hollywood media company. Letterboxd’s popularity has grown due to its appeal to millennials and Gen Z, as well as partnerships with movie studios and the Oscars. The platform allows users to rate, review, and recommend movies, and has become a source of information about moviegoer trends.