Internet television giant Netflix is making an investment in an advertising medium that rose to prominence alongside Harry Ford’s Model-T: the billboard.
Netflix is offering $300 million to acquire Regency Outdoor Advertising, a company that owns the familiar billboards along Sunset Strip, at Los Angeles International Airport and near the UCLA campus, Reuters reports.
The streaming TV giant plans to increase spending on marketing its original shows and movies to $2 billion this year, amid growing competition from technology companies such as Amazon.com, Facebook and Hulu, as well as from traditional media companies like Disney that are investing in their own streaming services.
Billboards are clearly part of Netflix’s promotional arsenal, with Sunset Boulevard adorned with images touting Stranger Things and The Crown. Should the transaction be completed, HBO and Showtime would seemingly need to look for other locations to promote its shows.
Netflix could not immediately be reached for comment.