Letterboxd Fans Launch Buyout Campaign

A group of investors and Letterboxd users is trying to do something rare in the streaming era: buy the platform themselves and run it as a community. TheWrap reports that Intrinsic Entertainment Collaborative, a public benefit company, has launched a campaign called Letterboxd4All to encourage the site's millions of users to invest alongside institutional backers and make a collective bid.

The campaign comes as Letterboxd's majority owner, Tiny, is reportedly courting offers from Sony, A24, and The New York Times. TheWrap notes the site has a reported valuation above $300 million.

Intrinsic says it already has institutional investors "capable of writing 7-and-8-figure checks," per TheWrap. Now it's turning to everyday users: a minimum $100 investment via WeFunder, or smaller donations through GoFundMe.

"The valuation of Letterboxd reflects the years of creative labor users have contributed to building the platform," Elizabeth Joyce, Intrinsic's founder, told TheWrap. "Our campaign is a reflection of people's frustration at seeing value extracted from their communities. Our model offers communities the chance to be the owner, not the product."

Who's backing the bid?

TheWrap reports that supporters include indie producer and former Amazon Studios film co-chief Ted Hope, "Blindspotting" director Carlos Lopez Estrada, Art House Convergence executive director Lela Meadow-Conner, and 8Above founder Jon Reiss. Hope told TheWrap that community ownership could be "a lifeline for our industry" in the face of consolidation and streaming upheaval.

Joyce told TheWrap that one goal is keeping Letterboxd a space where indie filmmakers can find audiences without a pay-to-play model. "We're really excited to offer new ways for filmmakers to engage with their audiences," she said.

What this means for users

If you use Letterboxd to track what you watch and discover new movies, this campaign is worth watching. TheWrap's reporting suggests the sale process is already underway, with big media companies circling. A community-owned alternative would be unprecedented at this scale, but it faces a steep price tag.

Whether the bid succeeds or not, it signals something: the people who built the platform's value are asking to own a piece of it.

• A24
• community ownership
• Elizabeth Joyce
• Letterboxd
• Sony
• streaming
• Ted Hope
• Tiny