A day after being named #2 on Profit magazine’s list of the top growth businesses in Canada, Mood Media Corp. got another boost Tuesday, announcing a five-year deal with Universal Music Group.
Mood Music uses audio, visual and other sensory services that appeal to customers at hundreds of businesses such as clothing stores and restaurants.
Universal is one of the world’s biggest music companies, operating through major labels such as Capitol Records, Virgin Records, Decca and Motown Records.
Mood Music’s chairman and chief executive, Lorne Abony, says the agreement represents a new level of collaboration.
He says Mood Music will use Universal’s catalogue to create promotions and new music services that will “captivate” consumers at the point of sale.
Universal Music says the deal will give its artists increased exposure.
“Our agreement with Mood enables us to partner with a global leader in providing in-store consumer experiences and furthers our mission of exploring new ways for our artists to reach the widest possible audience,” said Bruce Resnikoff, president and CEO of Universal Music Enterprises.
Mood Media says its platforms reach over 150 million consumers each day through 570,000 subscriber locations in over 40 countries throughout North America, Europe, Asia and Australia.
It has clients in the retail, hospitality and restaurant industries. The company has enjoyed remarkable growth since launching in 2004. “The company boasts the largest catalogue of licensed in-store music in the world, with seven million tracks at its disposal,” wrote Profit. “That, combined with an aggressive approach to acquisitions (the firm bought industry mainstay Muzak in 2011) and a less expensive pricing structure that customers love, has been Mood Media’s ticket to the top.
