New York Times in talks to buy film app Letterboxd
The New York Times Company is reportedly in exclusive talks to acquire the film lovers' social network Letterboxd for around $330 million, according to The Verge.
The facts
- The Verge, citing a New York Times report, says the Times Company is in exclusive negotiations to buy Letterboxd for around $330 million.
- Sony Pictures Entertainment and A24 were also recently rumoured to be interested in buying the film social network.
- The talks reportedly include Letterboxd's co-founders staying in charge while reporting to a Times Company executive, and Letterboxd would likely stay standalone for the foreseeable future.
- The Times Company would also integrate its ad tech. A spokesperson declined to comment, and Letterboxd and parent company Tiny Ltd. had not replied to The Verge.
Case notes · Danny's take
Why it matters
Letterboxd is a small social network with a loyal, engaged audience. That is exactly what big media companies pay for. The NYT already owns Wordle, Wirecutter and The Athletic, so this fits a pattern: buy communities people return to daily, then add subscriptions and ads. It's still a report, not a signed deal.
For builders
Niche communities with loyal users get bought. If you are building a social product, depth of engagement can matter more than raw user numbers. Also watch how the ad tech integration plays out, because that is where user goodwill gets tested.
Not financial advice. Do your own investigation.
This story was summarised with AI from The Verge's reporting and checked against our editorial policy. Danny's take reflects his views. Disclaimer.
Danny Walter
Founder of Moon Republic, Volt Terminal and Moon Republic Academy. Author of The Market Is a Crime Scene and After the Applause.