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Universal Music Group (UMG), said to be the world’s biggest music label, has had an Indian division since 1969. It has now secured a significant stake of 30 percent in one of Hindi cinema’s leading production houses, Excel Entertainment, gaining global soundtrack rights in the process.
An event was held at Mumbai’s Hotel Taj Land’s End on December 5 to announce the same. Maharashtra Chief Minister Devendra Fadnavis and Kaustubh Dhavse, Chief Advisor to him (Investments, Infrastructure, Technology) were present along with Javed Akhtar.
While Fadnavis hailed the mammoth first step between a Mumbai-based studio and a global music group, he hoped that many such associations would follow and let on that a few were coming up.
Dhavse added, “This is a landmark moment for India’s creative economy. The partnership between Universal Music Group and Excel Entertainment reinforces Mumbai’s position as India’s media and entertainment capital and its growing role on the global stage. From powerful storytelling to global sound, Mumbai continues to shape culture at scale.”
Universal Music India has entered into an agreement to acquire a 30 percent equity in Excel, valuing the studio at INR 2,400 crore ($267 million). This strategic partnership grants UMG global distribution rights for all future original soundtracks from Excel’s projects.
Excel Entertainment has established itself as a major force in Indian cinema and web content. The studio’s slate includes Dil Chahta Hai (2001), said to be a turnaround film in Hindi cinema making, Zindagi Na Milegi Dobara, Gully Boy (India’s 2019 Academy Awards submission), Prime Video’s Emmy-nominated show Inside Edge and more popular web series like Mirzapur and Made in Heaven. The Don and Fukreyfranchises, Agni, Ground Zero, Madgaon Express and Superboys of Malegaon are among their other prominent work. Ritesh Sidhwani and Farhan Akhtar are the founders of the company.
Under the agreement, UMG will launch a dedicated Excel music label with global distribution, while Universal Music Publishing Group becomes Excel’s exclusive music publishing partner. UMG’s existing artistes can also be featured in Excel’s future productions.
Devraj Sanyal, chairman and CEO of Universal Music India and South Asia and senior VP of strategy for Africa, Middle-East and Asia, will join Excel Entertainment’s board of directors. Ritesh and Farhan will continue overseeing creative direction and content decisions. He stated, “This would not happen without the support of the hon’ble CM Devendra-ji and Kaustubh, so huge thanks for that. To have a state government that truly enables businesses and dreams is a privilege and you guys have shown up every single time.”
“India’s entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations,” said Sidhwani and Akhtar. “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 artistes and repertoire across music, film, and emerging formats. Together, we aim to take culturally rooted stories to the world.”
Adam Granite, UMG’s CEO of Africa, Middle East and Asia, also lauded the work of Excel, talked about the Indian music scene being “A hugely exciting opportunity for music and the music-led entertainment business.”
As Polydor GMBH, Universal Music India was the first alternative as music label to HMV (now Saregama) in India way back in 1969. It was later renamed Music India Limited in 1980 and PolyGram in the mid-1990s. In the late 1990s. it was merged into Universal Music.
The company has also produced a few films like Khamoshi—The Musical and marketed film soundtracks like The Train, Sachaa Jhutha, Johny Mera Naam, Mera Gaon Mera Desh, Ek Baar Mooskura Do, Jawani Diwani, Roti, Julie, Sholay, Dharam-Veer, Amar Akbar Anthony, Qurbani and Coolie.
