Netflix Trying To Acquire Billboard Company For $300 Million

Streaming giant Netflix has always seemed to be ahead of trends which has easily made them the most popular streaming service. Now they are moving forward with investing in an advertising medium, billboards.

According to DEADLINE Netflix is offering $300 million to acquire Regency Outdoor Advertising. The company owns billboards along the Sunset Strip, LA International Airport and near the UCLA campus.

This move by Netflix is is part of their plan to increase spending on marketing their original shows and films to $2 billion this year. This push is due to rising competition from other companies like Amazon and Hulu. Other media companies like Disney and Warner Brothers are investing in their own streaming services, so they need to do what they can to stay on top.

Billboards have already been used to promote some of their original content like Stranger Things and The Crown, being featured on Sunset Boulevard. If the deal goes through, it would seem like HBO and Showtime would have to find new locations to promote their shows.

What do you think of Netflix’s growth? Let us know in the comment section below!

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Source: DEADLINE

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