The newspaper that brought you Wordle and The Athletic may be adding a film-nerd hangout to its collection. The New York Times Company has reportedly entered exclusive negotiations to acquire Letterboxd, the social platform where movie fans log, rate and review what they watch.
Quick Facts
- Buyer: The New York Times Company
- Target: Letterboxd, often described as Goodreads for movies
- Reported price: $330 million
- Status: Exclusive negotiations, not a finished deal
- Source: TechCrunch (reporter Amanda Silberling, November 5, 2026), citing a New York Times report
What’s Being Reported
According to the Times’ own reporting, the company has entered exclusive talks to buy Letterboxd. The Times declined to comment on the story to its own paper, which led TechCrunch to say it takes the report seriously, since the information may have come from inside the company.
What Letterboxd Is
Letterboxd lets users track the films they’ve seen, write reviews, build lists and follow friends. The service is free, with paid subscriptions that unlock advanced features. Its appeal comes from a community that treats movie-watching as a social hobby rather than a passive habit.
Explosive User Growth
The numbers explain the interest. Letterboxd had 3 million users in January 2021 and reported 28 million by April of this year. More than half of those users are under 35, a demographic many legacy media companies struggle to reach.
A Long Road to a Sale
Reports earlier this year said Letterboxd was seeking a new owner. According to the Times, film studios A24 and Sony were also interested, though A24 was reportedly priced out of the bidding. That suggests the platform drew competition from both media and entertainment players.
The Price vs. Earnings
TechCrunch points out that Letterboxd’s projected earnings for this year are about $15 million. That means the reported purchase price is roughly 22 times that figure, with the earnings equal to only about 4.5% of what the Times would pay. The gap suggests the buyer is paying for audience and strategic fit, not just current profit.
Why a News Company Wants a Movie App
The Times has spent years building a bundle of subscription products beyond hard news, including games, cooking and sports coverage. A passionate, young film community could extend that strategy, pairing the Times’ criticism and entertainment coverage with a social platform where people already discuss movies. This is analysis based on the company’s past moves, not a stated plan.
What It Could Mean for Users
- Short term: Nothing changes until a deal is confirmed.
- If the deal closes: Users may see new integrations, though no plans have been announced.
- Community concerns: Fans of independent platforms often worry about changes to features, tone or pricing after acquisitions.
What Readers Are Asking
Is the deal final? No, the companies are reportedly in exclusive negotiations.
How much is the Times paying? A reported $330 million.
How many people use Letterboxd? 28 million as of April, per reporting.
Who else was interested? A24 and Sony, per the Times.
What to Watch Next
Look for an official announcement, details on Letterboxd’s plans after the sale and any word on subscription or product changes.
Source: TechCrunch