NYT Nears $330M Deal for Letterboxd
The New York Times Company is in exclusive talks to buy the film community platform Letterboxd, which has about 31 million users.
Updated on Nov. 6, 2026 in Media
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The New York Times Company has entered exclusive negotiations to acquire Letterboxd for a reported $330 million, though the deal is not yet finalized. The film community platform, which is majority-owned by Tiny, has grown to nearly 31 million users.
Why it matters
The reported price is more than 20 times Letterboxd's projected 2026 earnings of $15 million, a valuation that signals the value placed on its large, engaged user base. The deal would extend The New York Times' reach into film and entertainment as it works toward its target of 15 million subscribers by 2027.
Letterboxd's reported $330 million price is more than 20 times its projected 2026 earnings of $15 million, and its user base grew from 1.8 million in 2020 to nearly 31 million. Tiny acquired a 60% controlling stake in 2023 at a $50 million to $60 million valuation.
The players
The New York Times Company
The New York Times Company is a major American news publisher known for its flagship newspaper and digital subscription business.
Letterboxd
Letterboxd is a film community platform founded in New Zealand where users log, rate and review movies.
Tiny
Tiny is a Canadian company that holds the controlling stake in Letterboxd.
The details
Netflix, A24 and Sony were reported to have bid for Letterboxd before the New York Times entered exclusive negotiations. Tiny retained the boutique investment bank LionTree to manage the sale, and co-founders Matthew Buchanan and Karl von Randow retain 40% of the company.
Timeline
2023: Tiny acquires a 60% controlling stake in Letterboxd.
Thursday, November 5, 2026: The New York Times reports its negotiations to acquire Letterboxd.
2027: The New York Times targets 15 million subscribers.
Market Landscape
The New York Times is pursuing its target of 15 million subscribers by 2027 from a current base of 13.8 million, and a Letterboxd acquisition would broaden its content beyond news. The move comes as legacy publishers look for ways to build engagement and revenue through adjacent consumer communities.
Letterboxd users could see changes to the platform's features, pricing or access if the acquisition is completed. The deal remains under negotiation, so current users will not be affected until terms are finalized.
The takeaway
Subscription-based media companies are increasingly looking beyond news to build loyal audiences. Readers following the industry can watch whether this deal closes and how the Times integrates a film community into its digital business.
Further reading
For more on how publishers are expanding into new audiences, see the Media section.
Source note: This article includes information reported by Outlookindia.
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