1. Sunil Sinha Technical Director Emerging Market Economics December 2006
Strategic Plan for the Promotion of Professional Services Exports in Barbados – Production Services for the Entertainment Industry
Sunil Sinha
Technical Director
Emerging Market Economics
December 2006

2. Overview Market can be divided into:
Film Production: Worldwide expenditure grew by 30% from 2001 to 2005, hitting US$7.3 billion
Music: Global market worth nearly US$103 billion, physical recordings largest segment at US$31.4 billion
Events Staging: Live music performances part of music figure, worth US$14.4 billion

3. Market Sectors Film Production
Covers filming and production and post-production; latter includes adding animation, computer graphics and special effects
Music
Production-related services include physical recordings, live performances, music publishing, ring tone revenues, digital recordings
Events Staging
Music concerts (particularly those featuring Bajan music), cultural shows involving theatre, dance and music, performed domestically and abroad

4. International Trends Film Production
Production outside US exhibiting sharp growth (135% from ), worth US$3.8 billion compared with US$3.38 billion in America
Canada has absorbed much of US market because of attractive filming locations, skilled labour, lower costs and attractive incentives
Overseas production location can result in savings of 10-15%
Music
Producing music requires quality studios but is primarily influenced by reputation of individual producers
Digital music small but growing
Events Staging
Growth in live music performances driven by large festivals in Europe and North America

5. Local Capability
Domestic market for shows, music, scale of Cropover means high quality services exist
In addition to artist management, have ability to produce music and videos; some quality studios
Ability to independently produce and sell music, ring tones
Nature of industry means that individual firms lack cohesiveness
Lack of marketing expertise/resources within firms

6. Target Markets
Film Production
US market is largest opportunity, but competition from large scale investments in low-cost destinations is high
Music
Artists within region, soca/calypso extra regional artists, music and video production
Events Staging
Cultural tourism from US/UK, 15% annual growth; baby boomers

7. Market Positioning
Profile for Bajan music rising due to success of Rihanna, Rupee
Ability to produce unique Bajan sound and to present creatively for mainstream markets
Existing cultural shows, music styles, consumers due to Cropover; could lead to production opportunities
Main competitor is Jamaica with US$40 million exports
Unable to compete against high tech film studios/cities

8. Marketing Activities – Brand Awareness
Objective: Increase awareness of services among potential customers, brand and promote Barbados as centre for entertainment
Advertisements: For events/shows need to be continually placed in-flight, airport, hotels
Tourism Website: Should highlight specific production facilities/services on offer, brand Barbados as a centre for creative production services
Foreign Advertising: Limited, directed at potential clients for music production; need to increase exposure of local producers through media coverage

9. Marketing Activities – Direct Marketing
Objective: Increase consumption of entertainment and related production services
Fam. Trips: For US producers
Marketing Trips Abroad: Identifying target customers and undertaking missions abroad

10. Marketing Activities – Enabling Environment
Objective: Address local factors constraining growth
Business Support: Providers need assistance with marketing and improving business models
Incentives: Access to finance an identified constraint, need to specific incentives for entertainment providers to facilitate marketing
Local Partnerships: Need to forged partnerships between different service providers to improve and expand the product offering, could also be used to more effectively lobby government
Skills: Improve availability of training in new techniques/applications, industry to lead

11. Thank you