"Universal Music Group is investing $80 million for a stake in one of India's biggest Bollywood production companies, Excel Entertainment Pvt. Universal Music India, a division of Universal Music Group, will acquire a 30% equity interest in the Mumbai-based movie studio. In the deal, announced Monday, the companies will work together on forthcoming films, series, music and emerging formats. While getting involved in India's local film industry, Universal Music will also now receive global distribution rights"
"Founded by producers Ritesh Sidhwani and Farhan Akhtar in 1999, Excel is responsible for making over 40 different films and scripted shows. Its most popular titles include Dil Chahta Hai, Don and Talaash. The company is currently valued at approximately $290 million. India's entertainment landscape continues to grow from strength to strength, and this is the perfect moment to build meaningful global collaborations, said Sidhwani and Akhtar in a joint statement. Together, we aim to take culturally rooted stories to the world."
Universal Music Group is investing $80 million to acquire a 30% equity stake in Mumbai-based Excel Entertainment, gaining global distribution rights for future original soundtracks tied to Excel projects. The companies will collaborate on upcoming films, series, music and emerging formats, and plan an Excel-linked music label to feature UMG and Universal Music India artists within Excel titles. Excel, founded by Ritesh Sidhwani and Farhan Akhtar in 1999, has produced over 40 films and scripted shows including Dil Chahta Hai, Don and Talaash, and is valued around $290 million. The move reflects growth in India’s entertainment market.
#music-industry-investment #bollywood-film-production #soundtrack-distribution #india-entertainment-market
Read at www.latimes.com
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