Mood Media to provide Rights Included Music to Shell owned filling stations across Russia
Toronto, April 26 – Mood Media Corporation (TSX:MM / LSE AIM:MM), the world’s leading in-store media solutions provider, today announced that it has entered into a new national agreement with Shell Company to supply in-store music to their network of filling stations in Russia. Shell owns filling stations that operate under the Shell brand in St. Petersburg and the Leningrad region, Moscow and the Moscow region, as well as in the Vologda, Lipetsk, Tver, Tula and Yaroslavl regions. The music is drawn from Mood Media’s existing collection of rights included music and the playlists are produced locally in Moscow.
“We are very pleased to be working with Shell Company as they expand their footprint in Russia,” said Lorne Abony, Chairman and CEO of Mood Media Corporation. “Russia is Europe’s fastest growing retail market and we are seeing an increase in business opportunity as more retailers invest in the country.”
Russia is one of the top three European markets for many consumer product segments, according to Euromonitor, and is forecasted to become the largest consumer market overall in Europe by 2018. Retail sales are estimated to grow more than 20 percent in 2012, to US $750 billion. Mood Media’s clients include global retail brands expanding operations in Russia such as Promod, Jack Wolfskin, Ralph Lauren Marks and Spencer and H&M.
“Consumers in Russia are spending more and more time and money in retail stores, and they are growing to expect a more sophisticated retail experience,” said Claude Nahon, President of Mood Media Europe. “We are well-positioned to help local and national retailers improve their customer experience, and to help global brands enter and expand in the market.”
Russia’s population of 140 million consumers has a growing appetite for retail goods. Rising disposable incomes, low unemployment, an expanding middle class and rising levels of credit are contributing to double-digit growth in several retail sectors, including DIY, OTC, consumer electronics and luxury goods. Food retail is a particularly strong sector, forecast to be worth US $211.80 billion in 2011 by Business Monitor International (BMI), with sales expected to grow by 70.0% to US $360.10 billion by 2015.
About Mood Media Corporation
Mood Media Corporation (TSX:MM/ LSE AIM:MM), named Canada’s fastest growing company by PROFIT Magazine 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 Corporation works with over 470,000 commercial locations in over 40 countries throughout North America, Europe, Asia and Australia. Through its subsidiaries Mood Media, Muzak, and Mood Entertainment, Mood Media Corporation’s products and services reach 100 million people every day in a broad client base including 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.
For further information about Mood Media, please visit www.moodmedia.com.