Monday, March 5, 2007 10:11
I have long held the view that the largest screen networks out there, are and are going to be those that supply music as well – the music video market is such a large content creator of course – so many retail and leisure venues require background music.
Anyway, this came up in the Independent over the weekend and I thought it might be of interest to…
Re-recorded instrumental versions of Beatles songs in hotel elevators. The latest dance floor hits in fashion emporia. Ever wondered who supplies pubs, restaurants, shops and hotels with background music?
Imagesound is one such company. In fact, it is one of the UK’s leading operators in the field.
On Wednesday, the Alternative Investment Market-listed group will post annual results showing that its recent troubles are behind it and that a recovery has taken hold across the business.
Derek Mapp, the serial entrepreneur who took over as executive chairman two years ago, has pushed through the turnaround. With the refinancing of Imagesound complete, new banking facilities in place, and recent acquisitions performing well, investors can expect to find the company firmly into the black. For the year to 31 December 2006, Collins Stewart, the firm’s stockbroker, expects earnings of £1.6m on sales of £7.1m.
Alongside background music, Imagesound provides radio and TV services to the retail and leisure sectors. At the last count it had over 45 major clients, including Pizza Express, Carphone Warehouse, Nando’s and HBOS, with its services present in nearly 13,000 outlets up and down the country. Wednesday’s results are likely to show an improvement on these figures.
Recent acquisitions have taken Imagesound abroad and into the higher-margin business of supplying background music to four-and five-star hotels. With the group’s finances now on a sound footing, further deals could be on the cards in the year ahead.