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Thursday, Jun 8, 2023

Netflix in Turn to Traditional Media?

Hollywood is likely to see a lot more of Netflix Inc. on the Sunset Strip in the near future.

The Los Gatos-based video streaming pioneer has reportedly taken a turn toward traditional media for purposes of self-promotion with a deal to acquire as many as 35 billboards on the famed mile-and-a-half stretch of Sunset Boulevard between Crescent Heights Boulevard in West Hollywood and Sierra Drive in Beverly Hills.

Several reports last week said Netflix agreed to pay West Hollywood-based Regency Outdoor Advertising Inc. $150 million for half of its assets – a chunk that includes the billboards on the Sunset Strip.

Netflix spokesman Richard Siklos declined to comment on inquiries from the Business Journal on the billboards. He said the company typically withholds comment on acquisitions until it has issued a press release.

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