Netflix goes old school with Hollywood billboards

The streaming service makes a statement in Tinseltown.

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Sean Keane

Netflix is turning to old-fashioned advertising.

Claire Reilly/CNET

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  continues its run of original content with the July 27 arrival of Orange is the New Black's season 6, which follows last week's return of Glow for a second season.

Netflix didn't immediately respond to a request for comment.