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ICICI Securities Report
ICICI Securities has initiated coverage on these two new-age media tech stocks - Prime Focus Ltd. and Amagi Media Labs with 'Buy' rating, and has set a target price of Rs 375, and Rs 700, implying a potential upside of 22% and 24% respectively.
The brokerage highlighted that digital advertising stood at ~63% of the total Indian ad market in CY25 (Source: FICCI-EY report), up from ~56% in CY24. Majority of these spends are captured by the global social media giants like Google and Meta.
Among Indian champions, Jio Hotstar leads the race with more than 100 crore downloads and more than 53 crore monthly average users as of Q1 FY27.
While the social media, streaming giants are well tracked, in this report, the brokerage tries to size the opportunity and uncover content consumption trends that are likely to unfold in the future.
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The brokerage also highlight that businesses, ecosystems that are likely to drive this evolution. Within the listed universe, ICICI Securities identify Prime Focus and Amagi Media Labs as two key beneficiaries of these trends.
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