Film Lovers Should Own Letterboxd
Boston, Massachusetts | Orgs & Companies
Film-related Business
The press says Letterboxd's majority stakeholder is selling. Intrinsic Entertainment Collaborative wants to buy it back for the people. Our cooperative business model and coalition of filmmakers and fans are a natural fit. Film lovers built the culture: now we want to shape Letterboxd's future.
Film Lovers Should Own Letterboxd
Boston, Massachusetts | Orgs & Companies
Film-related Business
1 Campaigns | Massachusetts, United States
262 supporters | followers
Enter the amount you would like to pledge
$33,350
Goal: $100,000 for impact campaign
The press says Letterboxd's majority stakeholder is selling. Intrinsic Entertainment Collaborative wants to buy it back for the people. Our cooperative business model and coalition of filmmakers and fans are a natural fit. Film lovers built the culture: now we want to shape Letterboxd's future.
About The Project
- The Story
- Wishlist
- Updates
- The Team
- Community
Mission Statement
The Story
On April 26, the press reported that Tiny would be selling their 60% stake in Letterboxd.
We believe the platform built FOR people who love movies — where films find their audiences, where the cultural conversation about cinema actually happens, and where fans get to revel in their love of cinema — should be owned BY people who love movies.
Intrinsic Entertainment Collaborative is a public benefit corporation whose mission is to save independent film. One year ago, we started developing the legal, financial, and cooperative infrastructure to make it possible for film communities to launch, build, and cooperatively own mission-driven marketing platforms and businesses because we believed that is what would save the industry.
That's how we found ourselves ready to act when opportunity knocked.
 copy.png)
Getting a film made is no longer the hardest or most expensive part of filmmaking. Getting your film seen is.
A decade ago, venture-backed companies flush with cash paid record prices to acquire independent films at festivals. Traditional distributors went out of business because they couldn't compete. Once the competition was vanquished, the incentive to write big checks vanished.
Six years ago, a global pandemic accelerated changes to audience behavior, and independent theaters shuttered in droves.
The film industry has hurtled its way through so many changes so quickly, traditional financing models collapsed, streamers pivoted to IP-based and algorithm-ready fare, and back-end participation largely disappeared.
But one bright spot for the industry remained — Letterboxd.
Standing strong against a backdrop of consolidation, corporatization, and the commodification of art, Letterboxd offered a place for movie lovers to gather, celebrate film, and discover new favorites.
We viewed Letterboxd as the top rung of the filmmaking ladder — the place where films that have managed to get made, marketed, and released could connect to their audiences.
As filmmakers, we wanted to build the bottom rung of that ladder — an authentic community where filmmakers and their earliest supporters could nurture incredible independent films into existence. Collaboratively.
As social entrepreneurs, we knew building this kind of platform would require a brand new kind of corporate structure.
It is extremely difficult to get mission-driven businesses off the ground. It is even more difficult to get cooperatively-owned businesses off the ground if they need startup capital.
This is because startup capital typically depends on equity investment, and equity investment (even the impact driven kind) requires a reasonable expectation of financial return and an exit strategy.
So we designed a solution: a governance mechanism for social impact investors to invest in mission-driven companies, and exit through cooperative evolution instead of requiring a sale to private equity or an IPO.
We were so committed to this vision, we spent a year working with Harvard Law School on our unique governance structure and funding model.
At the same time, we pitched our Community Center wireframes to Cactuslab — the team that built Letterboxd. We explained our vision for building community in a film's earliest stages, and how we believed that community would stick with filmmakers for every step of the journey. All the way up to Letterboxd.
We simultaneously worked on the business model with Harvard and the platform design with Cactuslab. On April 21, our articles of incorporation were approved by the Massachusetts Secretary of State. We were ready to launch!
After months of intense work, we decided it made sense to take a week off before launching into Community Center's next phase. And then the Semafor story broke.
Letterboxd was for sale and its future would be determined by the next buyer.
.png)
Every platform you've ever loved has a version of this story. The thing that made it worth loving gets acquired, "optimized", and slowly hollowed out until it becomes something else. You know this feeling and you've felt it before. Letterboxd doesn't have to go that way.
Richard Rushfield, Founder of The Ankler
When the press reported that Tiny wanted to sell their 60% stake, we found ourselves in an incredible position: partnered, prepared, and positioned to act.
This campaign is the proof of community demand.
We need a coalition of filmmakers, fans, and people who care about the future of online communities to work together. We know that whoever owns Letterboxd next will have outsized impact not just on the Letterboxd community, but the future of independent film.
Thomas Flight, Independent Filmmaker
.png)
Your pledge is a donation and a vote.
A vote for the kind of internet we want to have.
A vote that says platforms built by communities should be owned by communities.
A vote for business models that lead to the kind of future we believe is possible.
$4 gets you in. What matters is that enough of us show up.
Our initial goal is $100,000 — the amount we need to cover the legal costs to make a formal offer and conduct due diligence on the acquisition. Every stretch dollar beyond that decreases the need for equity investment and increases our independence.
We have spent over a year building the legal, financial, and cooperative structure to make this moment possible — and we were ready when the press reported the news.
Now we want you to join us.
.png)
Follower count is how the world measures momentum and how we demonstrate the size of the community behind this bid. It tells mission-driven investors the demand is real.
If you're not ready to pledge → follow. If you already pledged → follow and tell someone else to follow.
Every follower is a vote, too.
The single most powerful thing you can do after pledging is tell someone.
A specific person. The filmmaker in your life who lives on Letterboxd. The film fan who introduced you to it. The entrepreneur who might want to learn more about our business model.
The person who will understand immediately why this matters.
Post to active Letterboxd fan communities and let them know why you're joining the campaign:
Reddit: https://www.reddit.com/r/Letterboxd/
Discord: https://discord.gg/Na3mwHPH
Here's words you can use right now → pick one, the link is already added, and send it:
- 26 million people built Letterboxd into the town square of cinema. Now the community has a chance to own it. I'm in. SaveLetterboxd
- Let’s Save Letterboxd. I'm in. SaveLetterboxd
- Letterboxd is for sale. The filmmakers and fans who shaped it are trying to buy it — cooperatively. I'm in. SaveLetterboxd
- Letterboxd is where films find their audiences and careers are made — the community that built it has a chance to own it. I'm in. SaveLetterboxd
#SaveLetterboxd #StopEnshittification #Englorification
We want to see Letterboxd englorified, not enshittified. We'd like you to be part of it.
Love, Team Intrinsic
Beth Cannon, Emmy Award-Winning Development Executive
Q: Can people located outside the United States pledge?
A: Yes! Thank you for asking, we are happy to have you!
Q: Do I get equity for this donation?
A: No, this is a non-equity crowdfunding site only. If you are interested in making an investment in Intrinsic that is contingent on the Letterboxd acquisition or to support Intrinsic's mission more broadly, please fill out this form.
Q: Is my donation tax-deductible?
A: Donations made here for rewards are not tax-deductible. If you are interested in donating $1000 or more, please fill out this form, and we can connect you with our fiscal sponsor to make a tax-deductible donation. (U.S. taxpayers only)
Q: What do I receive for donating here?
A: You will receive the incentive(s) listed for your pledge amount.
Q: What will you do if the campaign's bid is not accepted?
A: We have set the campaign length to 60 days so that if we learn in that window our bid will not succeed, we can give supporters the opportunity to cancel or lower their pledge amounts.
If we receive information our campaign will not succeed within 60 days, we will provide notice immediately and give our supporters the opportunity to cancel or lower their pledge amounts.
If supporters decide to proceed with their pledge, we will use the funds to move forward with the launch of our previously planned platform and grant-making program for filmmakers.
Alongside our work with Harvard Law School on the benefit corporation structure, we worked with Boston College Law School to create a nonprofit organization, Intrinsic Impact Collaborative (IIC). Our plan previously and now is to use profits from our own platform to fund recoverable grants for filmmakers, and reignite investment in independent film.
If you choose to proceed with your pledge, it will go directly to these initiatives.
If 60 days pass and the campaign closes, we will not be able to offer refunds if our bid is not successful. In this event, all funds remaining after taxes and legal fees will be used to benefit the independent film industry through access to our collaborative marketing platform and the funding of our recoverable grant program.
Q: I have a question not answered here. How can I contact you?
A: You can contact us using this form.
Q. How can members of the press contact you?
A: You can contact us using this form.
Wishlist
Use the WishList to Pledge cash and Loan items - or - Make a pledge by selecting an Incentive directly.
Direct link:
Share this update!
About This Team
.png)
Intrinsic Entertainment Collaborative is a Massachusetts-based public benefit corporation built on a simple belief: independent filmmaking is only sustainable when the people who make films own the infrastructure around them.
Our core team brings decades of executive leadership across nonprofit, film, tech, legal, and finance. We came together out of a passion for storytelling, free artistic expression, and the conviction that artistic ambition and financial sustainability are entirely compatible.
.png)
- Elizabeth Joyce — Executive Director — New York University (BA), Tufts University (MA), Harvard University (Certificate in Negotiation)
- Jade Clark — Chief Financial Officer — Harvard University (BA), London School of Economics (MBA)
- Jennifer Hong — Director of Marketing — UC Berkeley (BA), New York University (MBA), MIT Sloan (Certificate in Digital Marketing Analytics)
- Lauren Hoehlein Joseph — Director of Organization — Dartmouth College (BA), Boston College (MA)
- Finnerty Steeves — Director of Filmmaker Community — Cal. State Fullerton (BA), American Conservatory Theater (MFA)
- Natasha Eldridge — Benefit Director — UC Santa Cruz (BA), Simmons University (MBA)
- Taylor Lewis — Marketing Manager
- Mindy Green — General Counsel — Yale University (BA & JD)
- Tony Wang — Legal Team — Stanford University (BA), Duke University (JD & MBA)
.png)
We built a deep bench of advisors who are among the most respected practitioners in their fields. This is not a ceremonial list. These are people who are actively engaged in making this possible.
- Ted Hope — Producer and independent film advocate
- Lela Meadow-Conner — Producer and independent film advocate
- Geralyn Dreyfous — Producer and independent film advocate
- Amy Hobby — Co-founder, Distribution Advocates
- Siobhan Dullea — Startup executive and board member, impact investor
- Emily Best — Founder, Seed & Spark
- Jon Reiss — Filmmaker, educator, and media strategist
- Andrew Hevia — Producer and independent film advocate
- AJ Gerstenhaber — Strategic advisor, technology
- Samalid Hogan — Strategic advisor, business development
- Amy Durning — Producer and independent film advocate
- Sandrine Mangia Park — Strategic advisor, marketing
- Edward Loveall — Strategic advisor, technology
- Christine Kolenik — Producer and independent film advocate
- Duck Kolenik — Producer and independent film advocate
- Kathleen Lingo — Producer and independent film advocate
- Susan Stover — Producer and independent film advocate
- Amy Fracassini, Esq. — Legal advisor
.png)
This campaign is built atop a foundation of incredible institutional partnerships who believed in our vision for collaborative ownership from the start.
Harvard Law School — Transactional Law Clinic
We had a complex cooperative ownership structure to design, so we went straight to the best. The Harvard Law Transactional Law Clinic worked with us to custom-design a mission-driven public benefit corporation structure with equity crowdfunding mechanics built into the bylaws from day one. It was built for mission-driven cooperative ownership at scale.
Boston College Law School — Community Enterprise Clinic
Alongside our work with Harvard designing our public benefit corporation, we worked with the Community Enterprise Team at Boston College Law School to incorporate a nonprofit entity, Intrinsic Impact Collaborative. We did this so that we could use profits from our business to fund a grant-making program for filmmakers. Funds raised in this campaign over and above what we need in our bid will be used to fund grants for independent filmmakers through Intrinsic Impact Collaborative.
Additional Partners
- Mission Law — Legal counsel
- Seed&Spark — Non-equity crowdfunding platform partner
- Wefunder — Equity crowd investing platform partner
- Inspire Access — Fiscal sponsorship partner
- Boston Impact Initiative — Advisory partner
- Aspiration Tech — Advisory partner
This incredible team of collaborators has helped us structure a one-of-a-kind business:
- A public benefit corporation with crowdfunding mechanics built into its bylaws
- The opportunity for mission-aligned angels to exit to the community instead of private equity
- A collaborative of filmmakers, researchers, and social impact investors working together to build something sustainable, mission-driven, and socially responsible
We hope you will join us.
For Deeper Reading
- What is a Public Benefit Corporation?
- Harvard Law School Transactional Law Clinic
- Cactuslab — the studio behind Letterboxd
- Community Center — our flagship platform for independent filmmakers
- Tiny — current Letterboxd majority stakeholder
Current Team
Incentives
- The Story
- Wishlist
- Updates
- The Team
- Community
Mission Statement
The Story
On April 26, the press reported that Tiny would be selling their 60% stake in Letterboxd.
We believe the platform built FOR people who love movies — where films find their audiences, where the cultural conversation about cinema actually happens, and where fans get to revel in their love of cinema — should be owned BY people who love movies.
Intrinsic Entertainment Collaborative is a public benefit corporation whose mission is to save independent film. One year ago, we started developing the legal, financial, and cooperative infrastructure to make it possible for film communities to launch, build, and cooperatively own mission-driven marketing platforms and businesses because we believed that is what would save the industry.
That's how we found ourselves ready to act when opportunity knocked.
Getting a film made is no longer the hardest or most expensive part of filmmaking. Getting your film seen is.
A decade ago, venture-backed companies flush with cash paid record prices to acquire independent films at festivals. Traditional distributors went out of business because they couldn't compete. Once the competition was vanquished, the incentive to write big checks vanished.
Six years ago, a global pandemic accelerated changes to audience behavior, and independent theaters shuttered in droves.
The film industry has hurtled its way through so many changes so quickly, traditional financing models collapsed, streamers pivoted to IP-based and algorithm-ready fare, and back-end participation largely disappeared.
But one bright spot for the industry remained — Letterboxd.
Standing strong against a backdrop of consolidation, corporatization, and the commodification of art, Letterboxd offered a place for movie lovers to gather, celebrate film, and discover new favorites.
We viewed Letterboxd as the top rung of the filmmaking ladder — the place where films that have managed to get made, marketed, and released could connect to their audiences.
As filmmakers, we wanted to build the bottom rung of that ladder — an authentic community where filmmakers and their earliest supporters could nurture incredible independent films into existence. Collaboratively.
As social entrepreneurs, we knew building this kind of platform would require a brand new kind of corporate structure.
It is extremely difficult to get mission-driven businesses off the ground. It is even more difficult to get cooperatively-owned businesses off the ground if they need startup capital.
This is because startup capital typically depends on equity investment, and equity investment (even the impact driven kind) requires a reasonable expectation of financial return and an exit strategy.
So we designed a solution: a governance mechanism for social impact investors to invest in mission-driven companies, and exit through cooperative evolution instead of requiring a sale to private equity or an IPO.
We were so committed to this vision, we spent a year working with Harvard Law School on our unique governance structure and funding model.
At the same time, we pitched our Community Center wireframes to Cactuslab — the team that built Letterboxd. We explained our vision for building community in a film's earliest stages, and how we believed that community would stick with filmmakers for every step of the journey. All the way up to Letterboxd.
We simultaneously worked on the business model with Harvard and the platform design with Cactuslab. On April 21, our articles of incorporation were approved by the Massachusetts Secretary of State. We were ready to launch!
After months of intense work, we decided it made sense to take a week off before launching into Community Center's next phase. And then the Semafor story broke.
Letterboxd was for sale and its future would be determined by the next buyer.
Every platform you've ever loved has a version of this story. The thing that made it worth loving gets acquired, "optimized", and slowly hollowed out until it becomes something else. You know this feeling and you've felt it before. Letterboxd doesn't have to go that way.
Richard Rushfield, Founder of The Ankler
When the press reported that Tiny wanted to sell their 60% stake, we found ourselves in an incredible position: partnered, prepared, and positioned to act.
This campaign is the proof of community demand.
We need a coalition of filmmakers, fans, and people who care about the future of online communities to work together. We know that whoever owns Letterboxd next will have outsized impact not just on the Letterboxd community, but the future of independent film.
Thomas Flight, Independent Filmmaker
Your pledge is a donation and a vote.
A vote for the kind of internet we want to have.
A vote that says platforms built by communities should be owned by communities.
A vote for business models that lead to the kind of future we believe is possible.
$4 gets you in. What matters is that enough of us show up.
Our initial goal is $100,000 — the amount we need to cover the legal costs to make a formal offer and conduct due diligence on the acquisition. Every stretch dollar beyond that decreases the need for equity investment and increases our independence.
We have spent over a year building the legal, financial, and cooperative structure to make this moment possible — and we were ready when the press reported the news.
Now we want you to join us.
Follower count is how the world measures momentum and how we demonstrate the size of the community behind this bid. It tells mission-driven investors the demand is real.
If you're not ready to pledge → follow. If you already pledged → follow and tell someone else to follow.
Every follower is a vote, too.
The single most powerful thing you can do after pledging is tell someone.
A specific person. The filmmaker in your life who lives on Letterboxd. The film fan who introduced you to it. The entrepreneur who might want to learn more about our business model.
The person who will understand immediately why this matters.
Post to active Letterboxd fan communities and let them know why you're joining the campaign:
Reddit: https://www.reddit.com/r/Letterboxd/
Discord: https://discord.gg/Na3mwHPH
Here's words you can use right now → pick one, the link is already added, and send it:
- 26 million people built Letterboxd into the town square of cinema. Now the community has a chance to own it. I'm in. SaveLetterboxd
- Let’s Save Letterboxd. I'm in. SaveLetterboxd
- Letterboxd is for sale. The filmmakers and fans who shaped it are trying to buy it — cooperatively. I'm in. SaveLetterboxd
- Letterboxd is where films find their audiences and careers are made — the community that built it has a chance to own it. I'm in. SaveLetterboxd
#SaveLetterboxd #StopEnshittification #Englorification
We want to see Letterboxd englorified, not enshittified. We'd like you to be part of it.
Love, Team Intrinsic
Beth Cannon, Emmy Award-Winning Development Executive
Q: Can people located outside the United States pledge?
A: Yes! Thank you for asking, we are happy to have you!
Q: Do I get equity for this donation?
A: No, this is a non-equity crowdfunding site only. If you are interested in making an investment in Intrinsic that is contingent on the Letterboxd acquisition or to support Intrinsic's mission more broadly, please fill out this form.
Q: Is my donation tax-deductible?
A: Donations made here for rewards are not tax-deductible. If you are interested in donating $1000 or more, please fill out this form, and we can connect you with our fiscal sponsor to make a tax-deductible donation. (U.S. taxpayers only)
Q: What do I receive for donating here?
A: You will receive the incentive(s) listed for your pledge amount.
Q: What will you do if the campaign's bid is not accepted?
A: We have set the campaign length to 60 days so that if we learn in that window our bid will not succeed, we can give supporters the opportunity to cancel or lower their pledge amounts.
If we receive information our campaign will not succeed within 60 days, we will provide notice immediately and give our supporters the opportunity to cancel or lower their pledge amounts.
If supporters decide to proceed with their pledge, we will use the funds to move forward with the launch of our previously planned platform and grant-making program for filmmakers.
Alongside our work with Harvard Law School on the benefit corporation structure, we worked with Boston College Law School to create a nonprofit organization, Intrinsic Impact Collaborative (IIC). Our plan previously and now is to use profits from our own platform to fund recoverable grants for filmmakers, and reignite investment in independent film.
If you choose to proceed with your pledge, it will go directly to these initiatives.
If 60 days pass and the campaign closes, we will not be able to offer refunds if our bid is not successful. In this event, all funds remaining after taxes and legal fees will be used to benefit the independent film industry through access to our collaborative marketing platform and the funding of our recoverable grant program.
Q: I have a question not answered here. How can I contact you?
A: You can contact us using this form.
Q. How can members of the press contact you?
A: You can contact us using this form.
Wishlist
Use the WishList to Pledge cash and Loan items - or - Make a pledge by selecting an Incentive directly.
Direct link:
Share this update!
About This Team
Intrinsic Entertainment Collaborative is a Massachusetts-based public benefit corporation built on a simple belief: independent filmmaking is only sustainable when the people who make films own the infrastructure around them.
Our core team brings decades of executive leadership across nonprofit, film, tech, legal, and finance. We came together out of a passion for storytelling, free artistic expression, and the conviction that artistic ambition and financial sustainability are entirely compatible.
- Elizabeth Joyce — Executive Director — New York University (BA), Tufts University (MA), Harvard University (Certificate in Negotiation)
- Jade Clark — Chief Financial Officer — Harvard University (BA), London School of Economics (MBA)
- Jennifer Hong — Director of Marketing — UC Berkeley (BA), New York University (MBA), MIT Sloan (Certificate in Digital Marketing Analytics)
- Lauren Hoehlein Joseph — Director of Organization — Dartmouth College (BA), Boston College (MA)
- Finnerty Steeves — Director of Filmmaker Community — Cal. State Fullerton (BA), American Conservatory Theater (MFA)
- Natasha Eldridge — Benefit Director — UC Santa Cruz (BA), Simmons University (MBA)
- Taylor Lewis — Marketing Manager
- Mindy Green — General Counsel — Yale University (BA & JD)
- Tony Wang — Legal Team — Stanford University (BA), Duke University (JD & MBA)
We built a deep bench of advisors who are among the most respected practitioners in their fields. This is not a ceremonial list. These are people who are actively engaged in making this possible.
- Ted Hope — Producer and independent film advocate
- Lela Meadow-Conner — Producer and independent film advocate
- Geralyn Dreyfous — Producer and independent film advocate
- Amy Hobby — Co-founder, Distribution Advocates
- Siobhan Dullea — Startup executive and board member, impact investor
- Emily Best — Founder, Seed & Spark
- Jon Reiss — Filmmaker, educator, and media strategist
- Andrew Hevia — Producer and independent film advocate
- AJ Gerstenhaber — Strategic advisor, technology
- Samalid Hogan — Strategic advisor, business development
- Amy Durning — Producer and independent film advocate
- Sandrine Mangia Park — Strategic advisor, marketing
- Edward Loveall — Strategic advisor, technology
- Christine Kolenik — Producer and independent film advocate
- Duck Kolenik — Producer and independent film advocate
- Kathleen Lingo — Producer and independent film advocate
- Susan Stover — Producer and independent film advocate
- Amy Fracassini, Esq. — Legal advisor
This campaign is built atop a foundation of incredible institutional partnerships who believed in our vision for collaborative ownership from the start.
Harvard Law School — Transactional Law Clinic
We had a complex cooperative ownership structure to design, so we went straight to the best. The Harvard Law Transactional Law Clinic worked with us to custom-design a mission-driven public benefit corporation structure with equity crowdfunding mechanics built into the bylaws from day one. It was built for mission-driven cooperative ownership at scale.
Boston College Law School — Community Enterprise Clinic
Alongside our work with Harvard designing our public benefit corporation, we worked with the Community Enterprise Team at Boston College Law School to incorporate a nonprofit entity, Intrinsic Impact Collaborative. We did this so that we could use profits from our business to fund a grant-making program for filmmakers. Funds raised in this campaign over and above what we need in our bid will be used to fund grants for independent filmmakers through Intrinsic Impact Collaborative.
Additional Partners
- Mission Law — Legal counsel
- Seed&Spark — Non-equity crowdfunding platform partner
- Wefunder — Equity crowd investing platform partner
- Inspire Access — Fiscal sponsorship partner
- Boston Impact Initiative — Advisory partner
- Aspiration Tech — Advisory partner
This incredible team of collaborators has helped us structure a one-of-a-kind business:
- A public benefit corporation with crowdfunding mechanics built into its bylaws
- The opportunity for mission-aligned angels to exit to the community instead of private equity
- A collaborative of filmmakers, researchers, and social impact investors working together to build something sustainable, mission-driven, and socially responsible
We hope you will join us.
For Deeper Reading
- What is a Public Benefit Corporation?
- Harvard Law School Transactional Law Clinic
- Cactuslab — the studio behind Letterboxd
- Community Center — our flagship platform for independent filmmakers
- Tiny — current Letterboxd majority stakeholder