The New York Times Company has reportedly entered exclusive negotiations to acquire Letterboxd, a social networking platform for film enthusiasts, in a deal valued at approximately $330 million. The potential acquisition would add a movie discovery and review platform with 28 million users to the media company’s portfolio of digital subscription services.
According to a November 5, 2026, report by The New York Times, the negotiations follow interest from several potential buyers, including film studios A24 and Sony. No agreement has been finalized, and the companies have not publicly confirmed the proposed transaction.
Letterboxd Reaches 28 Million Users
Letterboxd allows users to track movies they have watched, publish reviews, rate films, and maintain personalized watchlists. The platform also supports social interactions through user profiles, recommendations, and shared film collections.
The service has experienced substantial audience growth, increasing from approximately 3 million users in January 2021 to 28 million by April 2026. More than half of its users are under 35, according to figures reported earlier this year.
Letterboxd operates a free service alongside paid subscription plans that provide additional features. Its annual earnings for 2026 are projected at approximately $15 million, substantially below the reported acquisition valuation.
The proposed $330 million purchase price represents approximately 22 times Letterboxd’s estimated annual earnings. However, the valuation remains subject to negotiations and has not been independently confirmed by either company.
A24 and Sony Previously Expressed Acquisition Interest
Letterboxd had reportedly been seeking a buyer earlier in 2026, attracting interest from entertainment companies looking to expand their digital audiences. A24 and Sony were among the prospective buyers, although A24 reportedly withdrew after the asking price exceeded what it was prepared to offer.
Exclusive negotiations with The New York Times Company do not guarantee that an acquisition will be completed. The report did not disclose a closing timetable or whether regulatory approvals would be required.
Potential Addition to New York Times Digital Portfolio
The New York Times Company operates a portfolio of digital products alongside its journalism business, including games, cooking, product recommendations through Wirecutter, and sports coverage through The Athletic.
Letterboxd’s combination of user-generated reviews, film recommendations, and subscription features would add a dedicated entertainment platform to that portfolio. Its audience also includes a substantial proportion of younger users, a demographic represented strongly in Letterboxd’s recent growth.
The New York Times Company declined to comment on the reported negotiations when contacted by its own newspaper. Letterboxd has not publicly announced an agreement or provided further details about the potential acquisition.
Featured image credits: Wikimedia Commons
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