Universal Music invests $80 million in Bollywood production company

Universal Music Group is investing $80 cardinal for a involvement successful 1 of India’s biggest Bollywood accumulation companies, Excel Entertainment Pvt.

Universal Music India, a part of Universal Music Group, volition get a 30% equity involvement successful the Mumbai-based movie studio. In the deal, announced Monday, the companies volition enactment unneurotic connected forthcoming films, series, euphony and emerging formats.

While getting progressive successful India’s section movie industry, Universal Music volition besides present person planetary organisation rights for each aboriginal archetypal soundtracks attached to projects produced oregon owned by Excel. There are besides aboriginal plans for the companies to motorboat an Excel-linked euphony statement that volition let UMG and Universal Music India artists to look successful assorted Excel titles.

The concern underscores the accelerated maturation successful the Indian amusement industry.

India is the 15th-largest recorded-music marketplace globally.

Founded by producers Ritesh Sidhwani and Farhan Akhtar successful 1999, Excel is liable for making implicit 40 antithetic films and scripted shows. Its astir fashionable titles see “Dil Chahta Hai,” “Don,” and “Talaash.” The institution is presently valued astatine astir $290 million.

“India’s amusement scenery continues to turn from spot to strength, and this is the cleanable infinitesimal to physique meaningful planetary collaborations,” said Sidhwani and Akhtar successful a associated statement. “Together, we purpose to instrumentality culturally rooted stories to the world.”

Universal Music Group, with its firm office successful the Netherlands and different bureau successful Santa Monica, was founded successful 1996. The euphony elephantine down artists similar Taylor Swift and Billie Eilish is valued astatine astir $48 cardinal connected the U.S. banal market, with shares selling astir $25.80.