Initially, Muzak ("Music" + "Kodak") was meant to supplant the ever-growing, but expensive radio that was just being introduced.
Later, it became a vehicle for increasing work productivity through mind control measures.
Eventually, it went nearly bankrupt, then bought by "Mood Media" - which, itself nearly went bankrupt.
Don't know its status these days. BTW: Muzak never created music to be played in elevators, so there's a certain irony there, I suppose.