Netflix wants to buy Letterboxd, the last good social media site
Netflix is in early negotiations to acquire Letterboxd, a social media platform dedicated to movie reviews and cinema discussion, according to reporting by Puck. The streaming giant faces competition from other bidders including Sony Pictures, Paramount, private equity firms TPG and RedBird, and Reddit co-founder Alexis Ohanian.
Letterboxd, founded in 2011, has become a significant hub for online film culture and discussion, allowing users to rate, review, and share movies. The platform has accumulated more than 30 million users since its launch.
The acquisition interest follows Tiny’s announcement that it is considering selling its majority stake in Letterboxd. Tiny had previously acquired 60 percent ownership through a $50 million investment. The platform is currently valued at $250 million, according to reports.
The potential acquisition reflects broader industry consolidation of entertainment properties. For Netflix, acquiring Letterboxd could deepen engagement with film enthusiasts and provide greater insight into user preferences and film discussion trends. The involvement of multiple major entertainment companies and investors underscores the strategic value of the film-focused social network in the competitive streaming and media landscape.