Universal Music acquires 30% stake in Farhan Akhtar's Excel Entertainment
What's the story
Universal Music Group (UMG), the parent company of Universal Music India, has acquired a minority stake in Excel Entertainment. The deal gives UMG a 30% equity stake in the Indian film and digital content studio, which is valued at ₹2,400cr ($267 million). This partnership also grants UMG global distribution rights for all upcoming original soundtracks from Excel's projects, reported Variety.
Studio history
Excel Entertainment's legacy and future plans with UMG
Excel Entertainment, founded in 1999 by Ritesh Sidhwani and Farhan Akhtar, has been a major player in Indian cinema and streaming content. The studio is known for critically acclaimed films like Gully Boy (India's 2019 Oscars entry), Zindagi Na Milegi Dobara, Dil Chahta Hai, and Prime Video's Emmy-nominated series Inside Edge. Their recent projects include Superboys of Malegaon and 120 Bahadur.
Strategic partnership
UMG's investment to enhance Excel's global reach
The deal will also see Universal Music Publishing Group become Excel's exclusive music publishing partner. This arrangement will allow UMG's existing artist roster to be featured in Excel's future productions. Devraj Sanyal, chairman and CEO of Universal Music India and South Asia, will join Excel Entertainment's board of directors. Meanwhile, Sidhwani and Akhtar will continue to oversee creative direction and content decisions at the studio.
Market insights
UMG's CEO emphasizes importance of original soundtracks in India
Adam Granite, UMG's CEO of Africa, the Middle East and Asia, said the deal strengthens UMG's position in India. "Original soundtracks remain at the heart of India's fast-growing music market," he said. "By investing in and partnering with Excel Entertainment, UMG will be uniquely positioned to contribute from the earliest stage to Excel's future endeavors and throughout the creative process."
Future vision
Excel's CEO highlights potential of the partnership with UMG
Excel Entertainment's CEO, Vishal Ramchandani, told Variety, "With a shared vision for innovation and excellence, we aim to transform Excel into a creative global studio - one that brings clutter-breaking, original content to audiences across platforms and geographies." Akhtar and Sidhwani, meanwhile, said, "We're excited to partner with UMG in what we believe will be a truly creative and transformative alliance, one that unlocks fresh opportunities for artists and repertoire across music, film and emerging formats."