Though acknowledging that the government through the Ministry of Culture, Gender and Entertainment have been making efforts to support the entertainment industry, Konteh asserted that “I don’t think enough has been done… when we consider the fact that Jamaica is the only country in the world that has created seven genres of music,” and is arguably “the cultural and music entertainment mecca of the world.” Pointing to the recent support provided by the government in offering grants to registered entertainment businesses who suffered immeasurable loss during the heights of the COVID-19 pandemic when movement was restricted, IB urged entrepreneurs to register their businesses and to ensure that they are part of the government’s entertainment registry, so as not to miss out on such future opportunities. Digital and Creating Value-Add Solutions Presents a Major Opportunity in Entertainment Jamaica’s entertainment industry is a multi-billion-dollar sector which reportedly contributes nearly 5% of GDP and generates between $15 -20 M USD in revenue per year. Against this background, Konteh turned his attention to prospects in the entertainment value chain. He asserted that in the post-COVID-19 era, opportunities abound for entrepreneurs particularly in the digital space, pointing out that advertising spend has shifted primarily to digital media. He noted that this has created demand for innovative and creative talent such as social media managers, content creators, copy writers, video editors and graphic artists as well as for production managers, sound equipment engineers and stage designers. The entrepreneur also spoke to opportunities for revenue generation through merchandizing at events, offering branded items such as caps, shirts and other paraphernalia that make an emotional connection with consumers. 10 19 April- September 2023 | VOICES Bi- Monthly Magazine of the University of Technology, Jamaica Closing out his presentation, Konteh shared with the live and in-studio audience insights into creating and sustaining his own business model which he underscored is built on creating value for the target audience. “I tend to generally look at what’s the problem… And also a lot of events are similar to each other, so the solution to that would be to create brands of events that cater to their evolving needs, creating niche events that are safe, that are inclusive, that are consistent with what you deliver each time,” he shared. Adding that persistence, determination and self-belief in the face of repeated failures, are key values for finding success as an entrepreneur. The one-hour broadcast also featured a short documentary that underscored the contributions of late pioneer money market in Jamaica, Joan Duncan, who is also the co-founder of JMMB Group. The lecture honors the vision, mission and passion of the late corporate leader, whose mission was to improve the lives of others through financial inclusion and access. In a brief pre-recorded welcome, Acting President, University of Technology, Jamaica Professor Colin Gyles, CD noted that “Since 2014, this annual lecture has been impactful in honouring the memory of Joan Duncan's vision and passion for Jamaica's growth and development. The lecture has highlighted critical areas of national life and has focused on one or more aspects of the core disciplines of the Joan Duncan School of Entrepreneurship, Ethics and Leadership (JDSEEL).” The lecture was moderated by Mr. George Davis, Executive Director, Nationwide News Network.
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