Prime Focus inches up as its arm signs services agreement with Netflix
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Prime Focus is currently trading at Rs. 73.30, up by 0.05 points or 0.07% from its previous closing of Rs. 73.25 on the BSE.
The scrip opened at Rs. 76.85 and has touched a high and low of Rs. 76.85 and Rs. 73.30 respectively. So far 745 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.75 on 08-Feb-2022 and a 52 week low of Rs. 48.55 on 11-Aug-2021.
Last one week high and low of the scrip stood at Rs. 76.85 and Rs. 68.10 respectively. The current market cap of the company is Rs. 2203.09 crore.
The promoters holding in the company stood at 69.96%, while Institutions and Non-Institutions held 11.21% and 18.83% respectively.
Prime Focus’ subsidiary -- DNEG has signed a new, multiyear services agreement with Netflix. The non-exclusive agreement covers the provision of visual effects and virtual production services by DNEG for Netflix series and feature programming. The new agreement extends and expands on a previous agreement that the companies signed in September 2020 and creates a pipeline of Netflix programming work for DNEG through 2025.
The DNEG-Netflix agreement aligns DNEG’s scale and global footprint as one of the world’s largest content services companies with Netflix’s diverse programming slate. As part of the agreement, DNEG will build upon its existing award-winning Netflix work with a significant expansion of its premium VFX work, both domestic and abroad. DNEG’s ReDefine division will also supply VFX services and top-end creative supervision for select Netflix programming.
Prime Focus (PFL), the world’s largest independent integrated media services powerhouse. It provides end-to-end creative services (stereo 3D conversion and animation), technology products & services (Media ERP Suite and Cloud-enabled media services), production services (equipment rental) and post-production services (Digital Intermediate and picture post) to the Media and Entertainment industry.
