More than half of Letterboxd’s users are under 35. The platform, often likened to Goodreads for movies, is free to use, with advanced features available through paid subscriptions.
Letterboxd had previously been reported to be seeking a buyer. The Times said film studios A24 and Sony were interested in acquiring it, but A24 was priced out.
The company’s projected earnings for this year are estimated at $15 million—about 4.5% of the reported purchase price. The New York Times Company declined to comment to its own newspaper. The report did not identify the source of the information.
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