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Netflix's patterned retro agreement is life imitating art



NEW YORK – Netflix goes retro. The $ 125 billion company behind Stranger Things is one of several companies looking at a Los Angeles skylight, Regency Outdoor Advertising, reporting Reuters on Friday, offering more than $ 300 million to it. Like Oscars winner Frances McDormand's character in "Three Signs", Chief Executive Reed Hastings's goal is to capture the right people's attention.

In some ways, the purchase would be an unusual move. Netflix does not make many acquisitions, at least in classical terms. The company is leaning more towards paying for talent and intellectual property rights. It bought the cartoon book publisher Millarworld for an undeclared sum, for example. And blinking eye-catching contracts like nabbing "Glee" producer Ryan Murphy from the twenty first century Fox with a $ 300 million five-year deal, according to the New York Times.

Regency owns signs throughout southern California, according to its bare-bone website. But its signs in highway locations, including the Los Angeles Sunset Strip ̵
1; the city of Angels & # 39; which corresponds to New York Times Square – is probably what attracted Netflix. It can use the signs to promote its original programming as "The Crown" in some of the most high-profile parts of a city dominated by the film and television industry.

Owning the space can let Netflix save a little on marketing costs. But since these can jump over 50 percent this year to $ 2 billion, analysts believe at MoffettNathanson, any financial benefit will be difficult to detect.

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Current Regency owners, the brothers Drake and Brian Kennedy, have been a colorful holder of L.A. culture and politics since the 1970s. Earlier, they were accused of corruption and have been involved in sufficient legal disputes that employees set up a fake voicemail account for a Christmas Eve that urged the callers to press "one" or "two" if they were suing or suing Regency, according to the Los Angeles Times. Simply making a show about these scary siblings would make the most sense.

CONTEXT NEWS

– Netflix is ​​one of the potential bidders for Regency Outdoor Advertising, a Los Angeles label company, reporting Reuters on April 6th. Netflix offers more than $ 300 million to the company, owned by the brothers Drake and Brian Kennedy.

(Editing Antony Currie and Amanda Gomez)

© Reuters News 2018


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