\n\tThe Universal Music Group has kicked off 2026 with the first big investment of the year: its Universal Music India subsidiary is taking a 30% stake in Indian film and digital content studio Excel Entertainment, a deal that values the latter enterprise at approximately $257 million, the companies announced today (Jan. 5). At that valuation, UMG\u2019s investment works out to just north of $77 million.<\/p>\n
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\n\tThe deal gives Universal global distribution rights for all of Excel\u2019s original soundtracks moving forward, including those created for Excel\u2019s popular musical drama projects, and will include the launch of a new Excel record label. Universal Music Publishing Group will also become Excel\u2019s global exclusive publishing partner, while UMG\u2019s chairman\/CEO of Universal Music India & South Asia and senior vp of strategy, Africa, Middle East and Asia Devraj Sanyal<\/strong> will join Excel\u2019s board of directors. A press release says that Excel\u2019s founders Ritesh Sidhwani<\/strong> and Farhan Akhtar<\/strong> will remain in charge of overseeing content and creative direction.<\/p>\n \n\t\u201cIndia\u2019s entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations,\u201d Sidhwani and Akhtar said in a joint statement announcing the deal. \u201cWe\u2019re excited to partner with UMG in what we believe will be a truly creative and transformative alliance\u2014one 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.\u201d<\/p>\n \n\tAdded Vishal Ramchandani<\/strong>, Excel\u2019s CEO, \u201cThis 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 \u2014 one that brings clutter-breaking, original content to audiences across platforms and geographies.\u201d<\/p>\n \n\tThe deal marks another foray into the Indian market for the U.S.-based music business, which has increasingly turned its attentions to the fast-rising subcontinent in recent years. Last February, Republic Records launched a joint venture<\/a> with Savan Kotecha<\/strong> to find the next Indian pop boy band, while Warner Music\u2019s Canadian and Indian operations (the latter of which was launched in 2022) founded a joint-venture label called 91 North Records in 2022, and in July HYBE announced<\/a> it was exporting its K-pop model to India. Recently, several other labels, publishers and DSPs have broadened their reach in the region. India boasts the world\u2019s largest population, but is the 15th-biggest recorded music market in the world, according to IFPI\u2019s latest figures, suggesting plenty of room for growth in the industry. India is also a fast-growing concert hub, with the likes of Ed Sheeran<\/a>, John Mayer<\/a> and Coldplay<\/a> making waves with shows in the country.\u00a0<\/p>\n
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