Letterboxd, one of the world’s fastest-growing social platforms for movie fans, could soon have a new owner. According to a report from Puck, the film discovery and review platform has been exploring a potential sale in recent months, with Netflix reportedly among several companies that have held early acquisition discussions.
While no transaction has been finalized, the report suggests growing interest in the platform as its user base continues to expand rapidly.
Netflix reportedly joins several interested buyers
Letterboxd’s owners have spoken with multiple potential buyers as part of an ongoing sales process. Alongside Netflix, the reported list of interested parties includes Sony Pictures Entertainment, Paramount Skydance, RedBird Capital Partners, private equity firm TPG, and Alexis Ohanian’s venture capital firm Seven Seven Six.
None of the reported discussions have resulted in a confirmed agreement. Letterboxd, Netflix, and Paramount all declined to comment on the acquisition speculation, while Tiny, the platform’s majority owner, did not respond to Variety’s request for comment. Variety also reported that representatives for Sony Pictures and TPG were contacted.
Responding to speculation linking him to a possible bid, Ohanian joked via text message,
“Man I can’t sneeze without someone taking about it lol.”
Letterboxd’s rapid growth fuels acquisition interest
Founded in 2011 and headquartered in Auckland, New Zealand, Letterboxd has evolved into one of the internet’s most influential movie communities. The platform allows users to log films, publish reviews, create watchlists, and discover recommendations from other movie enthusiasts.
The service has experienced remarkable growth in recent years. Letterboxd surpassed 30 million members globally as of June 2026, adding approximately 10 million new users within the past year. The platform also recently expanded its services by launching an online movie rental feature.
Majority ownership currently belongs to Tiny, a Canadian holding company that acquired a 60% stake in Letterboxd in 2023 at a reported valuation between $50 million and $60 million. Co-founders Matthew Buchanan and Karl von Randow retain the remaining 40% ownership.
A potential sale raises industry questions
The reported sales process is being managed by investment bank LionTree, which is said to be seeking a valuation of around $250 million, according to Puck.
If a major entertainment company ultimately acquires Letterboxd, questions could emerge about editorial independence and perceived favoritism toward that company’s own film catalog. Similar debates have surrounded other entertainment platforms in the past, including Rotten Tomatoes, whose ownership has changed several times over the years.
For now, however, discussions remain in the early stages, and there is no confirmation that Letterboxd will be sold or that Netflix—or any other reported bidder—will ultimately secure the platform.
