Mood Media Reports 2012 Revenues of $444 million and EBITDA of $112 million

 Mood Media Reports 2012 Revenues of $444 million and EBITDA of $112 million

PR Newswire

TORONTO, March 28, 2013

TORONTO, March 28, 2013 /PRNewswire/ - Mood Media Corporation (ISIN:
CA61534J1057)(TSX:MM ) (LSE AIM:MM), one of the world's largest integrated
providers of in-store customer solutions and experiences, today reported its
2012 and fourth quarter financial results for the period ended December 31,
2012.

The Company reported revenues of $132 million in the fourth quarter, a 51%
increase versus the prior year's quarter, driven by acquisitions, improvements
in recurring revenues in the North America and International reporting
segments, growth in equipment revenues and rising blended ARPU. For 2012,
revenues reached $444 million.

EBITDA in the fourth quarter remained flat relative to the prior year's
quarter at $28 million reflecting acquisitions, improvements in recurring
subscription and equipment revenues, offset by higher content expenses as well
as lower equipment margins. In 2012, EBITDA increased 35% to $112 million.

The Company also announced it is implementing immediately a comprehensive
operating and productivity program aimed at delivering improved business
results. The program is designed to enhance the Company's efficiency,
flexibility and innovation. It will be customer facing and will produce
streamlined operating capabilities.

"We are incredibly proud of the organization we have built over the last two
years," said Lorne Abony, Chairman and CEO of Mood Media. We have all the
capabilities to deliver truly outstanding customer experiences across a broad
range of solutions for our leading clients. The strength of our Company's
solutions is clearly evident in the continuing positive momentum in our
customer base in Q4."

"While we have made great strides so far, there is room for improvement. We
are focused on realizing the full potential of the opportunities ahead by
continuing to accelerate our solutions offering and by successfully
implementing our operational plans."

Selected Financial Information

                          Three months ended            Year ended
                          December December  December December December
                                31,        31,       31,        31,        31,
                               2012       2011      2012       2011       2010
Continuing operations                                           
                                                               
Revenue                    $131,946    $87,676  $443,823   $274,771    $79,009
Expenses:                                                                
 Cost of sales (excludes
  depreciation and
  amortization)              61,045     29,263   183,759     95,091     24,220
 Operating expenses         42,924     29,998   148,404     96,967     32,642
 Depreciation and
  amortization               17,839     13,764    57,856     42,047     10,164
 Share-based
  compensation                  866      1,215     3,758      3,175        732
 Other expenses             15,444      3,699    39,812     22,790     14,601
 Foreign exchange (gain)
  loss on financing
  transactions              (4,195)      6,519   (1,428)      5,067    (8,153)
 Finance costs, net          9,529      8,408    51,045     61,350     28,481
Loss for the period
before taxes               (11,506)    (5,190)  (39,383)   (51,716)   (23,678)
                                                                        
Income tax charge
(credit)                      2,438      2,391  (14,219)        545    (2,063)
Loss for the year from
continuing operations      (13,944)    (7,581)  (25,164)   (52,261)   (21,615)
                                                                        
Discontinued operations                                                  
                                                                        
Profit (loss) after tax
from discontinued
operations                 (13,203)       (23)  (54,067)    (7,644)         22
                                                                        
Loss for the year          (27,147)    (7,604)  (79,231)   (59,905)   (21,593)
                                                                        
Attributable to:                                                         
 Owners of the parent     (27,291)    (7,605)  (79,502)   (59,951)   (21,706)
 Non-controlling
  interests                     144          1       271         46        113
                          (27,147)   $(7,604)  (79,231)  $(59,905)  $(21,593)
Net earnings (loss) per
share:                                                                   
 Basic and diluted         $(0.16)    $(0.06)   $(0.50)    $(0.48)    $(0.24)
 Basic and diluted from
  continuing operations      (0.08)     (0.06)    (0.16)     (0.42)     (0.24)
 Basic and diluted from
  discontinued operations    (0.08)       0.00    (0.34)     (0.06)      0.00
                                                                        
                                                                        

                                  December       December       December
                                                          31, 2012             31, 2011             31, 2010
Total                              $947,781       $722,109       $367,347
assets
Total                               657,320        548,801        191,331
non-current
liabilities
                                                              
                                                              

Pro Forma Key Performance Indicators - 2012

                                      Q1.12   Q2.12   Q3.12   Q4.12    2012
Subscriber locations (Company owned) 432,428 431,527 430,874 434,501 434,501
Visual gross subscriber additions        710   1,134   1,380   4,196   7,420
Blended ARPU                          $59.22  $59.94  $59.37  $60.29  $59.70
Blended Churn                          0.72%   0.87%   0.70%   0.68%   0.74%

Pro Forma Key Performance Indicators - 2011

                                      Q1.11   Q2.11   Q3.11   Q4.11    2011
Subscriber locations (Company owned) 420,075 420,421 425,635 431,759 431,759
Visual gross subscriber additions        339     462     524     715   2,040
Blended ARPU                          $58.18  $58.52  $57.39  $57.97  $58.01
Blended Churn                          0.82%   0.78%   0.59%   0.63%   0.70%

Pro forma key performance indicators express the results of all ongoing
businesses presently owned and reflected as if ownership had occurred on
January 1, 2011.

This earnings release, which is current as of March 28, 2013, is a summary of
our 2012 annual and fourth quarter results, and should be read in conjunction
with our 2012 MD&A and our 2012 Audited Annual Consolidated Financial
Statements and Notes thereto and our other recent filings with securities
regulatory authorities in Canada and the United Kingdom.

The financial information presented herein has been prepared on the basis of
IFRS for interim financial statements and is expressed in United States
dollars unless otherwise stated.

This news release includes certain non-IFRS financial measures. Mood Media
uses these non-IFRS financial measures as supplemental indicators of its
operating performance and financial position. These measures do not have any
standardized meanings prescribed by IFRS and therefore may not be comparable
to the calculation of similar measures used by other companies, and should not
be viewed as alternatives to measures of financial performance calculated in
accordance with IFRS.

In this earnings release, the terms "we", "us", "our", "Mood Media" and "the
Company" refer to Mood Media Corporation and our subsidiaries.

About Mood Media Corporation

Mood Media Corporation (TSX:MM) (LSE AIM:MM), is one of the world's largest
designers of in-store consumer experiences, including audio, visual,
interactive, scent, voice and advertising solutions. Mood Media's solutions
reach over 150 million consumers each day through 570,000 subscriber locations
in over 40 countries throughout North America, Europe, Asia and Australia.

Mood Media Corporation's client base includes more than 850 U.S. and
international brands in diverse market sectors that include: retail, from
fashion to financial services; hospitality, from hotels to health spas; and
food retail, including restaurants, bars, quick-serve and fast casual dining.
Our marketing platforms include 77% of the top 100 retailers in the United
States and 100% of the top 50 quick-serve and fast-casual restaurant
companies.

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, including without limitation, expected
growth, results of operations, performance, and business prospects and
opportunities. 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 Mood Media's management discussion and analysis dated March 28,
2013 and Mood Media's annual information form dated March 28, 2013, both of
which are available on www.sedar.com.

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.

Mood Media Corporation presents EBITDA information as a supplemental figure
because management believes it provides useful information regarding operating
performance. EBITDA is not a recognized measure under International Financial
Reporting Standards ("IFRS"), does not have standardized meaning, and is
unlikely to be comparable to similar measures used by other companies.
Accordingly, investors are cautioned that EBITDA should not be construed as an
alternative to net earnings or (loss) determined in accordance with IFRS as an
indicator of the financial performance of Mood Media or as a measure of Mood
Media's liquidity and cash flows.

SOURCE Mood Media Corporation

Contact:

Investor Inquiries:
Randal Rudniski
Mood Media Corporation
Tel: +1 (416) 565 9295
Email:randal.rudniski@moodmedia.com

Dominic Morley
Hannah Woodley
Panmure Gordon (UK) Limited
+44 20 7886 2500

North America Media Enquiries
Sumter Cox
Mood Media Corporation
Director of Communications
Tel: +1 (803) 242 9147
 
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