The Bollywood production house behind films like ‘Gully Boy’ and series like ‘Mirzapur’ is valued at ₹2,400 crore
Excel Entertainment and Universal Music India have entered into a new agreement, with the music giant owning 30 percent stake in the film production house. Photo: Courtesy of Universal Music India
Universal Music India and Excel Entertainment have signed an agreement which gives the music giant a 30 percent equity stake in the film production house and digital studio.
In a deal announced on Jan. 5, 2026, Universal Music Group will now have global distribution rights to all original soundtracks of Excel Entertainment’s upcoming films and shows.
The partnership also extends to the creation of a new music label for Excel projects for worldwide distribution and Universal Music Publishing Group will become Excel’s exclusive music publisher. The deal also enables a potential for Universal’s global artist roster to collaborate on Excel Entertainment productions.
Excel Entertainment, founded by producer Ritesh Sidhwani and actor, musician, filmmaker and writer Farhan Akhtar in 1999, have had a fruitful run of acclaimed Bollywood hits across 25 years, from Dil Chahta Hai and Rock On!! to Zindagi Na Milegi Dobara and Gully Boy, plus series such as Mirzapur, Made In Heaven and Inside Edge.
The founders said in a joint statement, “India’s entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations.”
Universal Music India & South Asia CEO Devraj Sanyal (also senior vice president of Strategy, Africa, Middle East and Asia) now joins Excel Entertainment’s board. He adds in his statement, “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.”
Sidhwani and Akhtar will continue to lead the film company’s creative and content strategy. They add in their statement. “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.”
This is the second of recent instances where Universal Music India is returning to India’s film world. In August 2025, a new strategic partnership between Indian film production studio Maddock Films and major label Universal Music India led to the creation of a record label, Mad For Mussic.
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