Fastest Growing Company in Canada - Mood Media
TORONTO, June 1, 2011 /CNW/ - Mood Media Corporation (TSX:MM/ LSE AIM:MM), the leading global provider of in-store media, music, digital signage and scent solutions, today announced that it has been named the fastest-growing company in Canada by PROFIT Magazine. With US$145 million dollars in sales in 2010, representing an impressive 72,384% growth since 2005, Mood Media tops the PROFIT 200 list, which profiles the country's most successful growth companies. With the recently completed acquisition of U.S.-based Muzak, 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."
The PROFIT 200 ranks Canada's Fastest-Growing Companies by five-year revenue growth. Published in the summer issue of PROFIT and online at PROFITguide.com, the PROFIT 200 is Canada's largest annual celebration of entrepreneurial achievement.
"We are confident that considerable future opportunities for growth lie ahead," said Lorne 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."
Ian Portsmouth, Editor-in-Chief of PROFIT magazine, said: "The PROFIT 200 companies are the innovative, high-growth enterprises Canada needs to compete on the global stage.
"PROFIT is proud to celebrate their achievements and ambitions, and we encourage all businesspeople to learn more about the many ways they've come so far, so fast."