The New York Times is reportedly in exclusive negotiations to acquire the movie community Letterboxd for approximately $330 million. It has approximately 35 million members and is valued at approximately 22x projected 2026 EBITDA.
The New York Times has entered exclusive negotiations to acquire the movie community Letterboxd for approximately $330 million. According to reports, the target is a community for logging and reviewing films, with the terms of the acquisition and the progress of negotiations serving as the main points of focus.
The company has explained why it sees value in a movie community as it expands its subscription bundles. Letterboxd is said to have approximately 35 million members, with half of its active users under 35.
The purchase price is approximately $330 million, reportedly equivalent to about 22x projected 2026 EBITDA.
This report is a free, 10-page PDF in Japanese, available for download after registration. It organizes the facts and figures surrounding the expansion of subscription bundles and the valuation of the movie community. It was published in November 2026 and is attributed to Han Jeong-hun (韓ジョンフン).
The article also mentions that the South Korean video streaming site Watcha was sold for approximately ¥500 million.