Digital in-store player Mood Media named Canada's fastest-growing company

June 1, 2011 by Dave Haynes

In an industry that has way more supply than demand it is news enough when a digital signage turns a good profit, so it is real news when one in this space is named the fastest-growing company in the country.

Toronto-based Mood Media Corporation has been handed that recognition by Profit magazine, putting it at the top of its Profit 100 list because it did  US$145 million dollars in sales in 2010, and seen a somewhat impressive 72,384% growth since 2005.

With the recently completed acquisition of U.S.-based Muzak, says a release, Mood Media has trailing twelve months (LTM) revenue of approximately US$400 million on a pro forma basis, and trailing LTM EBITDA in excess of US$114 million.

Formed in 2005, Mood Media has become a global leader through a combination of disruptive innovation in music licensing and media convergence and a series of strategic acquisitions.

“We are very proud to be recognized for our financial performance and entrepreneurial achievement,” said Lorne Abony, CEO and Chairman of Mood Media Corporation. “To be recognized as Canada’s fastest-growing company by one of Canada’s leading business magazines honours the commitment of our employees to create and deliver memorable consumer experiences that increase loyalty, create brand differentiation, and maximize point-of-sale revenues for our clients.”

“We are confident that considerable future opportunities for growth lie ahead,” said Abony. “The market for in-store media remains largely untapped, with industry penetration at less than 10 percent of addressable retail locations globally, and we are ideally positioned to capitalize on these opportunities.”