Mood: The mood of the video seems to be one of excitement and anticipation. The phrase 'ITS BACK AGAIN' suggests a return or revival of something popular, likely a TV show, event, or series. The sparkling and glowing effect around the text adds to the celebratory and attention-grabbing tone.

Environment: The environment appears to be a digital or virtual setting, possibly a nightclub or a stage, given the presence of spotlight beams and sparkling lights. The dark background with shades of purple and blue creates a vibrant and energetic atmosphere, suggesting a setting that is modern and youthful.