Netflix is reportedly snagging 35 billboard displays on West Hollywood’s Sunset Strip.
The streaming video service has opted to buy half of Regency Outdoor Advertising’s assets for $150 million — after previously considering an outright purchase for double that amount — so it can focus on the centrally located Sunset Strip, sources told Reuters.
The deal is expected to close this month.
Advertising on Sunset Strip is viewed by Hollywood stars, star-wannabes and star makers every day, so this move sends a clear message that Netflix is stepping up its game in the world’s entertainment center. It will also stop Netflix’s competition from taking the space.
The company plans to spend $2 billion on all advertising this year, Reuters reported late Sunday.
Netflix continueswith the July 27 arrival of Orange is the New Black’s season 6, which follows last week’s for a second season.
Netflix didn’t immediately respond to a request for comment.