Music giant to take 30% stake in TV and film producer behind Prime Video and Netflix shows
Universal Music Group (UMG) is paying 7.2bn rupees (£59m) for a 30% stake in Excel Entertainment, the Indian production outfit behind dramas such as Inside Edge and Mirzapur.
The deal is via Universal Music’s Indian arm and values Excel, which was founded 25 years ago by Ritesh Sidhwani and Farhan Akhtar, at 24bn rupees (£198m).
The company’s slate ranges from Netflix crime drama Dabba Cartel and Prime Video duo Inside Edge and Mirzapur, to films such as Lakshya and Gully Boy.
The agreement will hand UMG global rights to the Mumbai-based producer’s existing and future soundtrack IP.
These will be distributed via a new Excel label within UMG, with the pact also providing opportunities for the music company’s clients to be featured in Excel shows.
Sidhwani and Akhtar retain oversight of creative and content, while Devraj Sanyal, chairman and chief exec of Universal Music India and South Asia and senior vice-president of strategy for Africa, Middle East and Asia, is joining Excel’s board.
Excel’s Sidhwani and Akhtar 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, chief exec at Excel Entertainment, added that the partnership marked “a pivotal step in our journey to broaden creative opportunities and tell Indian stories with a global lens.”
He continued: “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.”
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