Universal Music India’s Strategic Move into Bollywood with Excel Entertainment
Universal Music India has made a significant entry into the Bollywood film music market by acquiring a 30% stake in Excel Entertainment, a move valuing the production company at approximately $266 million. This development marks a strategic pivot for Universal Music Group (UMG), focusing on integrating film soundtracks into its distribution strategy after previously prioritizing “artist-led” music for over two decades. Excel Entertainment, known for its influential films like “Dil Chahta Hai,” “Rock On!!,” and “Gully Boy,” as well as the popular series “Mirzapur,” will see all its future soundtracks distributed globally under a new sub-label through Universal. This collaboration also designates Universal Music Publishing Group as Excel’s exclusive music publishing partner, potentially enriching the content of upcoming productions with its artists’ music. Devraj Sanyal, CEO of Universal Music India and South Asia, joins Excel’s board, illustrating the commitment to enlarging Excel’s footprint on a global scale. Excel CEO Vishal Ramchandani notes that the partnership aims to transform the company into a global studio renowned for original, engaging content. Co-founders Farhan Akhtar and Ritesh Sidhwani emphasize a shared vision with UMG to bring culturally rich narratives to a worldwide audience. UMG’s renewed focus on the film music sector includes re-issuing classic soundtracks and collaborating with Maddock Films. Adam Granite, UMG’s CEO for Africa, Middle East, and Asia, highlighted the pivotal role of soundtracks in India’s burgeoning music market, reflecting the overarching goal to connect with global audiences. This comes on the heels of a similar collaboration between Saregama and Bhansali Productions, illustrating a broader industry trend. Through these moves, Universal Music India not only stakes a claim in the vibrant Bollywood industry but also strengthens its strategic position in the ever-evolving global music landscape.
