The year was 1934. Babe Ruth, Lou Gehrig and Dizzy Dean were all baseball stars that year. The Otis Elevator Co. was already 84 years old in 1934. So when Muzak was founded in Fort Mill, South Carolina, that year, there was already a market for its product, quickly dubbed “elevator music.”
Muzak was bought by the Canadian firm Mood Media two years ago for $345 million, and, according to The New York Times, today, Feb. 5, 2013, “The company will announce that it is consolidating its services under a single brand, Mood, thus eliminating the Muzak name. ‘It’s the end of an iconic American brand,’ said Lorne Abony, Mood Media’s chairman and chief executive."
The article continues, “Mr. Abony said that Mood’s background music services, including Muzak and DMX — which it bought last year — generate about 90 percent of the company’s sales. In the third quarter of last year, it had $120 million in revenue and $32 million in earnings before interest, depreciation and amortization. But the company wants to expand its other services by offering clients a broad menu under one name, particularly in the United States, where the penetration of Mood’s sights-and-scents business has been low compared with the rest of the world.”