Letterboxd, a social media site for movie lovers, is reportedly looking for new owners

Letterboxd has grown significantly in recent years. Once a niche site thanks to only the most passionate movie lovers, the site – which allows users to rate, review, and recommend movies to each other – has continued to increase accounts by tens of millions, thanks in large part to the interest of millennials and Gen Z. Now, the company’s managing director seems to have made it known that he wants to raise money.

Street lights said on Sunday that The Canadian company Tiny, which owns 60% of Letterboxd, has been courting various buyers, including Versant, the parent of CNBC and MS NOW (formerly MSNBC). Another buyer is The Ankler, a popular Hollywood newspaper, according to Semafor. A little bit bought the platform in 2023, worth more than $50 million. It is unclear whether the company is about to take action.

Representatives for Letterboxd and Tiny did not immediately comment when reached by TechCrunch.

Founded in 2011, Letterboxd has seen a skip users in the past few years, the rise of about 26 million users this year, from 1.7 million in 2020, according to The New York Times. In recent years, places are he saw interest from the movie studios, who see it as a vehicle for promoting films and a source of information for moviegoers, and from the Oscars, which have become linked to social media. in the context of digital products a few years ago.