In India’s booming but under-monetized music market, UMG is betting on global breakout hits. Without international success, even a steady pipeline of soundtracks may fail to justify the investment.
Universal Music Group didn’t just buy part of a movie company. It bought a system that creates music. Excel Entertainment makes movies and shows, and each of those movies has songs. Every future original soundtrack will now flow through UMG’s system. On January 5th, UMG announced a deal to acquire 30% of Excel, with Excel valued at about $290 million. Reports of how much was paid differ, as the Los Angeles Times reported $80 million, while The Wall Street Journal reported $90.4 million.
The deal includes global distribution for all future original soundtracks from Excel projects, meaning UMG will now have more ways to earn money whenever future Excel songs are used anywhere. India’s music market is growing very quickly globally, with around 175 million listeners. According to MarkNtel Advisors, India’s media and entertainment market was valued at $29.4 billion in 2024
