Is Letterboxd being sold?

Letterboxd's controlling investor, Tiny, is reportedly exploring potential sales and has held discussions with several interested parties.

What are users worried about regarding Letterboxd's potential sale?

Users are concerned about the possibility of 'enshittification,' a process where platforms degrade over time as companies prioritize profit over user experience.

What protection does Letterboxd have against a sale?

Letterboxd co-founder Matthew Buchanan holds veto rights over any potential buyer, which could help prevent unfavorable acquisitions.

Home / Arts and Entertainment / Letterboxd Sale Sparks 'Enshittification' Fears

Letterboxd Sale Sparks 'Enshittification' Fears

27 Apr

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Summary

Letterboxd's investor, Tiny, is exploring potential sales of the platform.
Users worry about 'enshittification' and profit-driven changes.
Co-founder's veto power offers some protection against a sale.

Letterboxd Sale Sparks 'Enshittification' Fears

Letterboxd, a social network for film lovers, is reportedly up for sale by its controlling investor, the private equity firm Tiny. Discussions have occurred with potential buyers, including Versant and Ankler Media. These reports have revived user anxieties about 'enshittification,' a term describing the degradation of online platforms for profit.

Tiny acquired a 60% stake in Letterboxd in 2023, valuing the company at approximately $50 million. Since then, the platform has largely maintained its independent operation as promised, with founders continuing to lead. Letterboxd, founded in New Zealand in 2011, now boasts 26 million users and is credited with engaging younger demographics with cinema.