WEST HOLLYWOOD—Netflix, the leading American media service provider is set to own almost three dozen billboards on West Hollywood’s Sunset Strip. The deal is expected to close this July, Reuters first reported.
The television streaming provider known for its original shows like “Black Mirror” and “Stranger Things” is expected to spend close to $2 billion on advertising in 2018 including the cost of the billboards.
In April, Netflix originally planned on purchasing Los Angeles based Regency Outdoor Advertising for $300 billion. The company decided to only acquire $150 billion worth of Regency property and focus on its Sunset Strip project. According to Reuters, Netflix is debating on purchasing additional billboards from Regency near the Dolby Theatre in the future.
The purchase of the billboard allows Netflix to advertise upcoming movies and shows against companies like HBO and Hulu. Netflix currently has over 6,000 movies and 1,000 television shows and is scheduled to release 700 more new and original movies and TV shows by the end of the year.