Netflix reportedly eye up major purchase of Letterboxd
Netflix may have walked away from its deal to acquire Warner Bros Discovery earlier this year, but the organisation has reportedly found its next target: Letterboxd.
The app and website, which was launched in 2011, acts as a digital diary for movie-watching habits, allowing users to log and rate movies they have watched, as well as comment on their friends’ reviews, or reviews from the broader cinematic community.
Since 2023, the platform has been majority-owned by Canadian holding company Tiny, which acquired a 60 per cent stake at a valuation of $50 to $60 million.
From there, original Letterboxd co-founders Matthew Buchanan and Karl von Randow own the remaining 40 per cent share.
Now, according to a report by Puck, Letterboxd’s owners are in early talks with several potential buyers. This list also allegedly includes Sony Pictures Entertainment, David Ellison’s Paramount Skydance (and RedBird Capital Partners, a key Paramount financial backer) and private-equity giant TPG.
Reddit co-creator Alexis Ohanian, who also acts as founder and general partner of VC firm Seven Seven Six, is also reportedly eyeing up the purchase.
However, remaining coy in response to a request for comment from Variety, the tech mogul said, “Man I can’t sneeze without someone taking about it lol.”
As of June 2026, Letterboxd has more than 30 million members worldwide, thanks to a huge surge in popularity during and after the Covid-19 pandemic, which saw plenty with more time on their hands and a greater appetite to engage with movies and movie discourse at large.
Over the past year, Letterboxd has also been used as a marketing device, such as by Brat superstar Charli XCX, who used her public account to draw attention to her feature film, The Moment, released earlier this year.
Netflix certainly has the cash for the purchase as, earlier this year, Netflix walked away from its proposed $82 billion deal to acquire Warner Bros. Discovery’s film and streaming services, as Paramount Skydance swooped in with an ultimately “superior” deal.
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