Letterboxd Users, Investors Launch Campaign to Buy Site, Run as Community-Owned
"Our model offers communities the chance to be the owner, not the product," says Intrinsic Entertainment Collaborative, the company behind the bid The post Letterboxd Users, Investors Launch Campaign to Buy Site, Run as Community-Owned appeared first on TheWrap .
The beloved movie review site Letterboxd is currently up for sale, with potential buyers including Sony, A24, and The New York Times. The platform's majority owner, Tiny, has received interest from various parties, with a reported valuation exceeding $300 million. However, some users feel that the site has become a platform for extracting value rather than a community of shared interest.
In response to these concerns, the nonprofit organization Intrinsic Entertainment Collaborative has launched a grassroots campaign called Letterboxd4All. The aim is to encourage Letterboxd's users to pool their resources and make a joint bid to turn the site into a community-run organization. Institutional investors with the capacity to write checks in the 7-8 figure range have already pledged support to Intrinsic.
Users can contribute as little as $100 through WeFunder or via a GoFundMe donation. Elizabeth Joyce, founder of Intrinsic, emphasizes that the platform's valuation reflects the collective creative labor invested by its users and the frustration that arises from seeing that value extracted. The campaign hopes to provide an alternative to the corporate conglomerate model of media ownership and ensure that the platform continues to serve as a vital resource for indie filmmakers and audiences alike.
Written by urgent.news from TheWrap's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
