MOOD MEDIA CORPORATION - Mood Media Corporation reports Revenue and EBITDA
Tuesday, November 02, 2021 3:03 AM

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London, Nov. 2, 2010 (PR Newswire UK Disclose) -- 
Mood Media Corporation reports significant growth in Revenue and EBITDA
Record Revenue
·                  Consolidated revenue of $52.264 M; up 134% over the prior
quarter, up 3,366% over Q3 2009
Record EBITDA
·                  Adjusted EBITDA of $13.041 M; up 167% over the prior
quarter, up 2,351% over Q3 2009
TORONTO, Nov. 1 /CNW/ - Mood Media Corporation (formerly Fluid Music Canada,
Inc.) (ISIN: CA61534J1057) (TSX:MM / LSE AIM:MM) ("Mood Media" or the
"Company"), one of the world's leading in-store media solution providers,
announced today its results for the three and nine months ended September 30,
2010.
Lorne Abony, Chairman and CEO of Mood Media, comments: "We are exceptionally
pleased with our Q3 results.  We exceeded all expectations for the quarter and
we think that speaks volumes for the strength of our business, our overall
strategy and market leadership position, the success of our integration, and
our potential to build upon these results and grow significantly from here.
Going forward, we look to deliver similar positive results as our integration
efforts and operational gearing gather further momentum".  
Operational Highlights for the Quarter
·                  In-store Media division secures new client wins and
continues to develop new business opportunities
·                  Retail P-O-P division expands product range to include PC
casual games
·                  Operating efficiencies include:
- Reduction in churn,
- Cost and revenue synergies realized
·                  Market dominance continues to highlight the strength of the
underlying business  
Mood Media's growth and transformation from the prior year's comparable quarter
and the prior period is unprecedented.
In-Store Media Division
Mood Media's core in-store media division grew at a rapid pace.  In the nine
months ended September 30, 2010, revenue for Mood Media North America grew
32.8% year-over-year. Significant new client wins and launches in Q3, which
included such well-known brand-names as Guess Europe, Toys R Us
internationally, Carter's, among others, added thousands of new paying
locations to Mood's client network and underscore the broad appeal and utility
of Mood Media's solutions.
Retail Point-of-Purchase
Somerset Entertainment ("Somerset"), Mood Media's retail point-of-purchase
division (RPOP), has strategically re-positioned itself from a North
American-focused music business to an international multi-media entertainment
business providing products and services that enhance leisure time for its core
female demographic.  In Q3, Somerset made significant, decisive strides towards
delivering on this strategy:
·                  Somerset announced an innovative new casual games offering
that it will begin distributing through selected mass merchant retail partners.
 Somerset has secured exclusive licensing arrangements with the leading causal
games publishers, including Big Fish Games and Luxor.
·                  It was confirmed that Somerset will launch into Germany, the
4th largest music market in the world via Real, a division of Metro, the 3rd
largest retailer in the world;
·                  It was confirmed that Somerset will expand its business in
Italy in Q4 2010 by launching three programs in Finiper, the 6th largest
retailer in Italy;
Financial Summary
(in $ millions)                  Three-month period       Nine month period  
                                    ended Sept 30           ended Sept 30    
                                       2010      2009       2010         2009
Revenue                              52.264     1.508     90.577        4.211
Adjusted EBITDA (1)                  13.041     0.532     17.978      (0.337)
(1) Reconciliation of Adjusted EBITDA (earnings before financing charges,
taxes, amortization, stock-based compensation and other non-recurring charges),
as reported above, to generally accepted accounting principles (GAAP) with the
income /(loss) for the three-month and nine-month periods ended Sept 30, 2021
and 2010 are shown below (all numbers expressed in millions).
(in $ millions)                Three-month period    Nine month period
                                  ended Sept 30        ended Sept 30  
                                    2010      2009       2010     2009
Net (Loss) Income                (2.616)     0.184   (17.746)  (1.650)
Add/(Deduct)                                                          
   Provision for income taxes      0.606         -      0.905        -
   Financing charges, net          4.710   (0.054)     14.852  (0.184)
   Amortization                    6.560     0.257     11.709    0.891
   Other non-recurring items       3.655         -      7.865    0.114
   Stock-based compensation        0.126     0.145      0.393    0.492
Adjusted EBITDA(1)                13.041     0.532     17.978  (0.337)
(1) Mood Media Corporation presents Adjusted EBITDA information as a
supplemental figure because management believes it provides useful information
regarding operating performance. Adjusted EBITDA is not a recognized measure
under Canadian GAAP, does not have standardized meaning, and is unlikely to be
comparable to similar measures used by other companies. Accordingly, investors
are cautioned that Adjusted EBITDA should not be construed as an alternative to
net earnings or (loss) determined in accordance with GAAP as an indicator of
the financial performance of the Company or as a measure of the Company's
liquidity and cash flows.
About Mood Media Corporation
Mood Media is a leading in-store media specialist that uses a mix of music,
visual and scent media to help its clients communicate with consumers with a
view to driving incremental sales at the point-of-purchase. Operating through
its two principal divisions, In-Store Media and Retail Point-of-Purchase, Mood
Media works with more than 800 retail chains in more than 30 countries
throughout North America, Europe, Asia and Australia.
The Directors believe that Mood Media's services can have a direct impact on
consumer purchasing decisions which makes in-store media an effective marketing
tool. The Directors believe that in-store media services can enhance branding
in real-time and influence shopper decisions by improving the shopping
experience for consumers.
The in-store media business generates revenue via sales of its multi-sensory
services to businesses; the retail point-of-purchase sells specialty
compilations through its retail clients. Mood Media has also compiled an
extensive rights-included music library with over 1.8 million tracks.
Mood Media operates an international in-store media and music retail business
with an extensive geographic footprint and a broad client base including
several multinational blue chip organizations.
For further information about Mood Media, please visit www.moodmedia.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. The words "believe",
"expect", "anticipate", "estimate", "intend", "may", "will", "would" and
similar expressions and the negative of such expressions are intended to
identify forward-looking statements, although not all forward-looking
statements contain these identifying words. These forward-looking statements
are subject to important assumptions. While Mood Media considers these factors
and assumptions to be reasonable based on information currently available, they
may prove to be incorrect.
Known and unknown factors could cause actual results to differ materially from
those projected in the forward-looking statements. Such factors include, but
are not limited to: the impact of general market, industry, credit and economic
conditions, currency fluctuations as well as the risk factors identified in the
Risk Factors section of Mood Media's management discussion and analysis dated
November 1, 2010.
Given these uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. All of the forward-looking statements made in
this press release are qualified by these cautionary statements and other
cautionary statements or factors contained herein, and there can be no
assurance that the actual results or developments will be realized or, even if
substantially realized, that they will have the expected consequences to, or
effects on, Mood Media.
Forward-looking statements are given only as at the date hereof and Mood Media
disclaims any obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable laws.
Lorne Abony
CEO & Chairman
+1 416 510 2800
Dominic Morley
Panmure Gordon
+44 207 459 3600
(MM.)  
END
MOOD MEDIA CORPORATION
(Source: PR Newswire )
(Source: Quotemedia)
 

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