Fast Company magazine today named Terra as one of the top 5 Most Innovative Companies in music. Brazil headquartered digital media company, Terra is present in 18 countries and its product Sonora was ranked as No. 5 in the music industry on Fast Company’s annual list of the world’s Most Innovative Companies. The global digital media company and content producer joins the ranks of the top 50 Most Innovative Companies Facebook, Apple, Google and Amazon, as well as Pandora and Coca-Cola on the music category.
Terra created Sonora five years ago in Brazil and is exporting it to all countries where Terra has a presence. Up to this moment, besides the powerful Brazilian market, Sonora has already arrived at Argentina, Chile, Colombia and Mexico. In March, it will be launched in Peru and Terra is already preparing its launching in Ecuador by late May. The company already has plans to launch Sonora in US in the near future.
“The blooming of Latin American countries, led by Brazilian vigorous economic growth, allied with the increasing penetration of the internet, allowed Sonora to quickly became one of the top digital music channels in the world, both in terms of online free streaming as well as subscription based MP3 downloads”, said Terra CEO Fernando Madeira, himself recognized as a Young Global Leader some years ago at the Davos World Economic Forum.
To create the Most Innovative Companies list, Fast Company’s editorial team analyzed information on thousands of businesses across the globe, accounting for not only revenue growth and profit margins but also creative models and progressive cultures.
“Innovation has never been more important to our economy and our future,” said Fast Company editor Robert Safian. “These companies embody what unleashing human potential can accomplish”.
Terra was recognized by Fast Company for its leadership in the music industry and also for combining the offline and online worlds into one unique experience: last year, the company drew record audiences to Planeta Terra, the annual music festival held in São Paulo, Brazil, which headlined Smashing Pumpkins, Pavement, Mika and Phoenix. The concert was watched live, in HD and for free by millions of online viewers in 18 countries during 12 hours.
“This is a milestone in our mission to transform the music industry by soaring passion for music we share with millions of people worldwide.”, said Terra CEO Fernando Madeira.