COVID-19 conversations with Dream Entertainment
...as entertainment sector takes heavy COVID-19 blow
Observer business writer
As the entertainment sector remains closed due to the COVID-19 pandemic, the Jamaica Observer continues its COVID-19 conversations with various businesses affected over the last year.
Dream Entertainment is a well-known event management company which stages the Xaymaca Carnival and Negril’s premier event Dream Weekend.
The company, which has been in operation for 12 years, received a vote of investor confidence through private equity firm Proven Investments Limited which invested US$570,000 (J$75.28 million) into Dream for a 20 per cent equity stake.
While the world’s entertainment spaces reopen slowly with safe measures, Jamaica hasn’t had the formal staging of any large-scale events since March 2020. With so many firms struggling in the current environment, the
Business Observer speaks with chairman of Dream Entertainment Kamal Bankay on the way forward.
Business Observer (BO):
How do you view a safe reopening of the industry?
Kamal Bankay (KB): I believe that some types of events are way less risky than others. Outdoor, daytime, ridiculously large venues (some even by the ocean) with small crowds and designated areas are low-risk and can be considered. All of the temperature checks and entry sanitisation protocols, mask wearing, among others, would still apply. Also, we must consider events where we can create a temporary bubble and test every patron and staff member entering the space. The risk of transmission at those events is extremely low. Additionally, the same protocols for mask wearing and sanitising would still obtain, thus making the risk even lower. My belief is to regulate and allow what we can regulate safely and prevent all that we cannot properly regulate and are too risky. Some income for the sector is better than no income.
BO: You’ve taken the chance to operate in the more liberal Florida state which has been facilitative of events. Other than Florida, what other privots has Dream made during COVID-19?
KB: We have attempted to execute more corporate work, through our Dream agency that provides design, traditional marketing, digital marketing, logistics support and various levels of consulting for clients. We have done a few small events and tailgates during the phased reopening in summer 2020.
BO: How hard has been Dream been hit since COVID-19?
KB: We have not been able to execute any of our festivals since 2019. We have laid off the majority of our staff. That’s the harsh reality.
BO: If the entertainment industry isn’t opened within the next three months, what do you expect to happen to
KB: Most formal event industry-related businesses that have offices, utilities, and staff, like any other corporate company operating in Jamaica, will be forced to lay off staff permanently (furlough max is four months), sell their fixed assets or go bankrupt. The owners and operators will be forced to find another job or business.
BO: Do you believe that entertainment itself will have changed forever after COVID-19?
KB: I think Jamaicans like our entertainment just fine and won’t want to adjust unless we absolutely have to.
BO: Why hasn’t Dream pivoted to hosting more digital events, as seen with Verzuz?
KB: We have done a series of virtual events but they were not financially successful. Verzuz makes money thorough the global sponsorship model vs PPV. Swizz beats and Timbaland (owners of Verzuz) have millions of followers that they monetise through these platforms. We do not have anywhere near what they have in terms of reach and thus are not able to monetise and have financially viable online streams.
BO: What outlook do you have for 2021 especially with more Jamaicans being vaccinated?
KB: Effective vaccines, robust, rapid and cheaper testing, combined with existing protocols will allow us to have events safely in 2021.
BO: Tickets have gone on sale at gas stations for some Dream events. Does this mean the company is expected to host an event later in the year on the anticipation the sector will reopen?
KB: We are ready and waiting to be allowed to roll out our temporary bubble concept for Dream Weekend that can and will host a safe weekend in Negril for the benefit of the many different practitioners within the entertainment industry. This will also benefit all the other linked industries like tourism, manufacturing, agriculture, security, and others. We look forward to continued dialogue and discussions for a safe reopening of the event industry.