Letterboxd Users Invited to Bid on Site Through Community Ownership
Summary
A public benefit company called Intrinsic Entertainment Collaborative has launched a grassroots effort to turn Letterboxd into a community-owned platform. The campaign, dubbed Letterboxd4All, arrives as the site's majority owner fields acquisition interest from major players
"As Letterboxd's majority owner Tiny courts potential buyers, a public benefit company is making the case that the film-focused platform should belong to its users instead. Intrinsic Entertainment Collaborative has launched a campaign called Letterboxd4All, aiming to pool community funding into a competing bid for the site.
Letterboxd has been valued at over $300 million, with reported interest from Sony, A24 and The New York Times. Intrinsic says it already has institutional backers in place and is now seeking contributions directly from the platform's user base to strengthen its offer.
The campaign is accepting minimum investments of $100 through WeFunder, with smaller donations also available via GoFundMe. Intrinsic founder Elizabeth Joyce argued that users have long driven the value of the platform through their creative contributions and deserve a stake in its future.
""The valuation of Letterboxd reflects the years of creative labor users have contributed to building the platform,"" Joyce said.
For the filmmaking community in particular, the campaign carries an added dimension. Intrinsic has framed a community-owned Letterboxd as a potential discovery engine for independent films at a moment when self-distribution is growing as a viable path for emerging filmmakers."