Outlook For 2026: Why Devraj Sanyal Believes India’s Music Business Is Entering Its Defining Decade

After a year that tested confidence across the global entertainment industry, Devraj Sanyal is choosing momentum over mood.

2025, by his own admission, was marked by a sense of pessimism that cut across sectors. Yet Universal Music India & South Asia emerged from the year not just resilient, but strategically sharpened. 

Massive hits, a widened business footprint, a renewed presence in films, and decisive bets across music-led verticals helped reinforce the company’s long-term trajectory.

Looking ahead, Sanyal believes 2026 will be less about recovery and more about compounding vision.

“The year ahead will be defined by major announcements, deep partnerships and bold creative ambition,” he says, framing 2026 as a year where groundwork laid over the past few years begins to show tangible scale.

At the centre of that ambition remains a familiar but increasingly sharpened focus: the artist.

Across singer-songwriters, producers, composers and creators working in multiple languages and genres, Sanyal reiterates that every Universal Music business is designed around one principle - artist empowerment,this long-view approach is central to how the company sees growth.

That philosophy will extend across multiple verticals in 2026. Universal Music India & South Asia plans to significantly scale its talent management business, while allowing its distribution and publishing arms to finally reach what Sanyal calls their “natural scale and potential.” The company’s brands business,already a market leader in the region,is also set for further expansion, with increased experimentation and newer collaboration models.

But perhaps the most telling signal of where Sanyal sees the future lies beyond traditional music structures.

2026, he says, will be a year of experimentation and innovation, as Universal Music India & South Asia accelerates its evolution into a full-stack music and music-led entertainment company. Merchandising, fandom, fan technology and alternative economic models are no longer peripheral ideas,they are central to the next phase of growth.

“These are systems that support artists in ways that do not yet exist in India,” Sanyal notes, pointing to work that has been underway for several years but is now ready to move into the mainstream.

The ambition, however, is tempered with discipline. Sanyal is clear that pushing boundaries does not mean abandoning sustainability. The company’s journey, he stresses, must remain steady and year-on-year, even as it explores unfamiliar territory.

One of the biggest macro shifts underpinning this confidence is India’s slow but unmistakable move towards a subscription-led economy. As data becomes cheaper, broadband access widens and the middle class continues to expand, Sanyal believes Indian audiences are beginning to understand the value of paying for music,and, more importantly, directly supporting artists.

Over the next five to ten years, he sees India having the potential to become one of the world’s leading subscription economies, driven by its scale, digital penetration and fan engagement. In that context, 2026 represents an inflection point rather than a finish line.

“We expect 2026 to be a defining year in that journey,” Sanyal says, adding that Universal Music intends to play a leading role in shaping what that future looks like.In an industry often distracted by viral moments, Sanyal’s outlook for 2026 is notably structural. It is less about chasing the next hit, and more about building an ecosystem where artists, fans and businesses grow together,sustainably, creatively and at scale.”