"It contains a lot of advertisement."
Translation:Contiene mucha publicidad.
Yes. "Lo" means "it" as a direct object pronoun: I saw it. Lo vi. He wrote it. Lo escribió. I knew it! ¡Lo sabía!
When "it" is the subject, it is usually only expressed by using the 3rd person singular of the verb: It is mine. Es mío. It's raining. Está lloviendo. It contains the money. Contiene el dinero.