Netflix Is Taking Over Hollywood, One Billboard at a Time
Netflix isn’t just taking over TV and movies—now it could be part of your daily commute.
If you live in Los Angeles, that is.
The screening service will be investing in dozens of billboards in Los Angeles as part of its broader marketing strategy this year.
Reuters reports that Netflix (NFLX) plans to purchase up to 35 displays along West Hollywood’s Sunset Strip, in a deal that is due to close this month. This is in addition to an earlier report that Netflix planned to acquire Los Angeles-based Regency Outdoor Advertising for $300 million, although the company will now only buy half of its assets in order to focus on the Sunset Strip deal.
Netflix is reportedly considering billboard acquisitions in other parts of Hollywood as well, including near the Dolby Theatre, which is where the Academy Awards is hosted.
The decision to buy billboard space has a dual purpose: on the one hand it locks up prime ad space, as they will not be rented out to other companies; and on the other, one Hollywood executive suggested to Reuters that the visibility “helps lure filmmakers who crave attention for their movies.”
Netflix plans to spend $2 billion on marketing this year including billboard advertising, reports Reuters.