Universal Music India acquires minority stake in Excel Entertainment

Universal Music India (UMI), a division of Universal Music Group (UMG) has announced that it has entered into a definitive agreement with Excel Entertainment, a leading Indian film and digital content studio. Under the agreement, which values Excel at Rs 2,400 crores (~€257 million), UMI will become a significant minority shareholder in Excel with a 30% equity stake. 

Under the terms of the agreement, UMG will gain global distribution rights for all future original soundtracks created for projects owned or controlled by Excel. The alliance also includes the launch of a dedicated Excel music label, to be globally distributed by UMG. Universal Music Publishing Group will also become Excel’s exclusive music publishing partner, creating opportunities for existing UMG and UMI artists and repertoire to be included in Excel’s future productions. 

Devraj Sanyal – chairman and CEO of Universal Music India & south asia and SVP of strategy, Africa, Middle East and Asia – will serve on Excel Entertainment’s Board of Directors as part of the agreement. Excel founders Ritesh Sidhwani and Farhan Akhtar will continue to shape creative direction and content decisions.

Ritesh Sidhwani and Farhan Akhtar, founders of Excel Entertainment said, “India’s entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations. 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. Together, we aim to take culturally rooted stories to the world.”

Vishal Ramchandani, CEO, Excel Entertainment said: “This partnership with UMG marks a pivotal step in our journey to broaden creative opportunities and tell Indian stories with a global lens. 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.” 

Adam Granite, UMG’s CEO of Africa, Middle East and Asia (AMEA), said: “Today’s announcement further strengthens UMG’s position in India, a dynamic and strategically important music market for the group globally. Original soundtracks remain at the heart of India’s fast-growing music market, with Indian listeners showing a growing desire to access more music in that genre. By investing in and partnering with Excel Entertainment, UMG will be uniquely positioned to contribute from the earliest stage to Excel’s future endeavours and throughout the creative process, providing huge benefits to both parties.”

Devraj Sanyal said:“Farhan and Ritesh have built an exceptionally impressive business, and we’re thrilled to be working with them on the next phase of their journey. The Indian film scene presents a hugely exciting opportunity for music and the music-led entertainment business, and Excel is the perfect partner for us to work with going forward”.