Excel Entertainment–Universal Music Group seal historic deal as CM says Apna Time Aa Gaya

By Shantiswaroop Tripathi

Since the COVID-19 pandemic, the condition of the Bollywood film industry has visibly deteriorated. Several film production houses have begun selling their stakes. One of the earliest examples was Dharma Productions, when filmmaker Karan Johar sold 50 percent of his company’s shares to Adar Poonawalla—though creative control remained with him. However, following this move, films produced by Dharma Productions have largely failed to make a significant impact at the box office. Since then, reports of multiple Bollywood production houses being sold or partially divested have continued to surface. Recently, there were reports that renowned filmmaker Sanjay Leela Bhansali had sold 29 percent of his company’s shares to Saregama, although no official announcement has yet been made.

At the start of the new calendar year 2026, a historic agreement was finalized between filmmakers Farhan Akhtar and Ritesh Sidhwani’s production house Excel Entertainment and Hollywood-based Universal Music Group (UMG). The announcement was made on Monday morning, January 5, at Mumbai’s Taj Lands End hotel, in the presence of Maharashtra Chief Minister Devendra Fadnavis. This collaboration aligns with Prime Minister Narendra Modi’s vision of taking Indian content to global audiences—a point reiterated on stage by both Chief Minister Fadnavis and Universal Music’s Devaraj Sanyal.

At the press conference organized to announce the deal, the anchor highlighted the achievements of Excel Entertainment and Universal Music Group. Universal Music India & South Asia CEO and Chairman Devaraj Sanyal, Universal Music Group AMEA (Africa, Middle East and Asia) CEO Adam Granite, filmmakers Farhan Akhtar and Ritesh Sidhwani, along with Chief Minister Devendra Fadnavis, shared their thoughts. Veteran lyricist and screenwriter Javed Akhtar, Farhan Akhtar’s father, and filmmaker Zoya Akhtar, his sister, were also present among the media.

View this post on Instagram

From the Chief Minister’s remarks, it emerged that discussions between the two entertainment powerhouses had been ongoing for nearly a year. Universal Music Group had long been seeking to strengthen its presence in the Indian film market, and this deal opens major doors for its expansion in India. The partnership also perfectly aligns with Excel Entertainment’s vision of scaling up its productions, with several ambitious ideas already in the pipeline. This collaboration is set to position Excel Entertainment among India’s most trusted and influential production houses.

A key aspect of the agreement is that only a minority stake has been sold, while Farhan Akhtar and Ritesh Sidhwani retain creative control and majority ownership. As part of the partnership, a dedicated Excel music label will be launched, with global distribution handled by Universal Music Group. According to available information, Universal Music India has acquired a 30 percent stake in Excel Entertainment, valuing the company at approximately ₹2,400 crore. In its statement, Universal Music India said that under the agreement, UMI will become a significant minority shareholder, laying the foundation for a new strategic partnership between the two companies.

Under the deal, a separate music label under the Excel banner will be launched with worldwide distribution by UMG. Additionally, Universal Music Publishing Group will become Excel’s exclusive music publishing partner, creating new opportunities to integrate Universal Music artists and their creations into Excel’s future film and digital productions.

While opening the event, the anchor highlighted the completion of 25 years of Excel Entertainment, founded by Ritesh Sidhwani and Farhan Akhtar, and spoke at length about landmark films produced by the banner, including Dil Chahta Hai, Lakshya, Don, Rock On!!, Luck By Chance, Zindagi Na Milegi Dobara, Dil Dhadakne Do, and Gully Boy.

Excel Entertainment was founded in Mumbai in 1999. Its first film, Dil Chahta Hai (2001), became hugely popular among youth and won the National Film Award for Best Hindi Feature Film. Rock On!! also won a National Award. The banner is known for presenting unique characters and contemporary cinematic styles through films such as Don, Zindagi Na Milegi Dobara, Fukrey, Dil Dhadakne Do, and Raees. Gully Boy was India’s official entry to the 92nd Academy Awards.

View this post on Instagram

Excel Entertainment also expanded into film distribution, handling the Hindi-dubbed versions of KGF: Chapter 1 and KGF: Chapter 2, as well as the Telugu historical epic Sye Raa Narasimha Reddy. Farhan Akhtar made his directorial debut with Dil Chahta Hai, which was screened at international festivals and received a National Award. Though Lakshya (2004) was not a box-office success, it later gained cult status. Excel went on to produce Don in 2006 and later films such as Toofaan (released directly on Amazon Prime Video in 2021). Several other projects—including Jee Le Zaraa and Don 3—remain stalled, while films like Agni, Superboys of Malegaon, Ground Zero, Songs of Paradise, and 120 Bahadur were released in 2025.

Speaking on the occasion, UMG AMEA CEO Adam Granite said that the announcement further strengthens Universal Music Group’s position in India, a fast-growing and strategically important music market. He emphasized that original soundtracks are central to India’s expanding music ecosystem, and this partnership enables UMG to contribute to Excel’s creative process from the very beginning.

Universal Music India’s Devaraj Sanyal stated that Farhan Akhtar and Ritesh Sidhwani have built an outstanding business, and UMG is excited to be part of their next growth phase. He noted that India’s film industry presents exciting opportunities for music-led entertainment, making Excel an ideal partner.

Farhan Akhtar and Ritesh Sidhwani said that India’s entertainment sector is steadily growing stronger, making this the perfect time for meaningful global collaborations. They described the partnership with UMG as a truly creative and transformative alliance that will open new opportunities across music, film, and emerging formats.

Excel Entertainment CEO Vishal Ramchandani added that the partnership marks a major milestone, enabling the company to create new opportunities for artists and present Indian stories from a global perspective.

In his concluding address, Chief Minister Devendra Fadnavis delivered his speech in English and ended it by quoting a famous line from Gully Boy: “Apna time aa gaya.” He said that Universal Music Group’s deeper engagement in India through a homegrown Mumbai-based studio sends a powerful message about the maturity of India’s creative economy. He emphasized that Mumbai is no longer just participating in the global media ecosystem—it is shaping it.

The Chief Minister reaffirmed the government’s commitment to ensuring that Mumbai not only competes globally but leads. Highlighting Maharashtra as a preferred destination for global investors, he outlined five key factors companies look for: talent, policy stability, respect for intellectual property, speed of execution, and a complete ecosystem—all of which Mumbai and Maharashtra provide.

Congratulating both organizations on their “historic partnership,” he said the agreement symbolizes trust in India, Maharashtra, and Mumbai. He concluded by stating that Mumbai has always told India’s stories, and now it is ready to tell the world’s stories.

He later shared a congratulatory message on social media, thanking Prime Minister Narendra Modi for his leadership and vision, which laid the groundwork for this creative collaboration.

“From Dil Chahta Hai to Gully Boy, from iconic stories to iconic music—Mumbai is where India’s emotions find a global voice. India, Maharashtra, Mumbai—we’ve arrived. Apna time aa gaya.”