Tiny Seeks Buyer for Letterboxd After Rapid Growth
Tiny, the Canadian holding company that owns a 60% stake in Letterboxd, is reportedly seeking a buyer for the popular movie review and logging platform. The decision comes as Letterboxd transitions from a niche community into a potentially larger entertainment media company.
Tiny purchased a 60% stake in 2023, valuing the company at $50 million.
From Niche Platform to Growth Engine
Letterboxd was founded in 2011 in New Zealand. User growth surged from about 1 million in 2020 to over 26 million in early 2024, driven by increased streaming viewership during the pandemic. The platform’s core user base skews young, with most users aged 18–34.
When Tiny acquired its majority stake, the company promised to preserve Letterboxd's independence and retain its founders.
Recent Developments
The platform has been expanding its revenue streams:
- Expanded display advertising across the site
- Introduced a streaming rental business for obscure films
- A previously announced expansion into television reviews has not been completed
Reason for Sale
Tiny's disclosures indicate that Letterboxd was a major driver of growth in its venture fund last year. The company now sees an opportunity to profit from selling its stake, viewing the current market conditions as an optimal exit window.