Businessuite News24
The Caribbean Media Crisis: Can Digital Transformation Save Regional Media?
The Caribbean media landscape is facing a critical financial crisis, intensified by a sluggish response to digital innovation and global media trends. Reports from sources like Jamaica Gleaner and BusinessuiteOnline highlight how companies such as Guardian Media Limited in Trinidad and RJRGLEANER in Jamaica are reporting substantial losses, driven largely by outdated revenue models and limited engagement with digital audiences. This lack of innovation has left them vulnerable in a competitive media market, prompting urgent calls for strategic shifts to prevent further declines
“The Caribbean media landscape is facing significant financial challenges, exacerbated by a lack of innovation and adaptation to digital trends. Reports indicate that companies like Guardian Media are experiencing substantial losses, with management criticized for not addressing revenue declines effectively.”
Key Issues Affecting Caribbean Media
Mounting Financial Struggles and Cost-Cutting Pressures: Advertising revenue, once a primary income source, has drastically decreased as advertisers increasingly allocate budgets to digital platforms like Google and Facebook. Many media organizations are also cutting costs without sustainable strategies for recovery, leading to operational downsizing.
“Nothing in the report suggests that top management has any plans to address the persistent decline in revenue. The only solution seems to be cutting fat. They are down to the bones now, looking to cut or shorten limbs, with no plans for long-term sustainability. Covering their incompetence with lots of fancy words and adjectives, that don’t mean anything.”
Guardian Media Limited in Trinidad reported a $10.2 million loss, emphasizing the extent to which the drop in traditional ad revenue has impacted its operations. Guardian Media has attempted aggressive cost-cutting but, as analysts note, cuts have reached a critical point where further reductions would threaten the company’s operational capabilities and quality of journalism
Meanwhile, RJRGLEANER Communications Group in Jamaica has also experienced the challenges of this shift, as they acknowledge the need for a more agile digital transformation but are constrained by legacy models that are difficult to abandon.
“Caribbean media has failed to invest in content that resonates internationally, limiting expansion opportunities”
Limited Global Appeal: Caribbean media companies have been slow to produce content that resonates with international audiences, particularly the Caribbean diaspora, which remains an untapped market. A narrow focus on local stories, while essential, has limited these companies’ ability to expand globally. This has resulted in missed opportunities for international partnerships and distribution deals, which could have diversified revenue streams.
Unlike international counterparts that have expanded into the Caribbean through acquisitions, local companies have yet to establish a footprint outside the region
Content and Engagement Limitations: A significant barrier to Caribbean media growth lies in content strategies that focus narrowly on local audiences. Critics argue that Caribbean media companies have largely neglected the potential to produce content with global or diaspora appeal, missing opportunities to enter international distribution channels.
Trinidad Express points out that global media companies have thrived by creating content that appeals beyond their national borders, allowing them to secure international distribution and build larger audiences. Caribbean media has yet to capitalize on this, partly due to a lack of investment in global storytelling and digital analytics
Slow Pace of Digital Transformation: The Caribbean media industry’s hesitancy to adopt a digital-first approach has hampered its competitiveness. While international media have embraced digital transformation, incorporating digital subscriptions and paywalls, most Caribbean media companies have been slow to shift.
BusinessuiteOnline observes that many regional media companies are still bound by traditional operational models, limiting their ability to tap into new markets and digital revenue opportunities. These challenges were intensified by the pandemic, which accelerated the global shift to digital media consumption, but many Caribbean media companies were unprepared to pivot quickly.
Potential Pathways to Recovery and Growth
Despite these challenges, several strategic avenues could foster a resurgence in Caribbean media if adopted with urgency:
“Embracing digital-first strategies is crucial, as highlighted by industry leaders advocating for agility in adopting new technologies”
Digital Transformation: Embracing a digital-first strategy is crucial. Industry leaders and media analysts suggest that Caribbean media must adopt new technologies, such as digital subscriptions, paywalls, and mobile apps, to attract and retain audiences. The pandemic accelerated the global shift to digital, but Caribbean media has struggled to keep pace. RJRGLEANER’s leadership has recognized the need for agility in this area, yet implementation has been slow and hampered by existing legacy structures.
Digital Subscription Models and Paywalls: Many global media groups have succeeded with subscription-based revenue models, a strategy Caribbean media could emulate. Implementing paywalls for premium content or creating tiered access could tap into both local and diaspora markets, providing a consistent income stream from audiences willing to pay for quality, exclusive content.
Content Innovation and Global Appeal: Developing unique, globally appealing content is essential for Caribbean media to stay competitive. By tapping into Caribbean culture, history, and current affairs that resonate on a universal level, these companies could attract international interest and potential partnerships. Content that appeals to both local and international audiences—particularly the Caribbean diaspora—would not only expand reach but also create new revenue streams through licensing and distribution deals.
“Content Innovation: Developing unique, globally appealing content could attract international partnerships and revenue streams.”
Developing Caribbean content with universal themes that resonate internationally can attract both audiences and distributors. Unique Caribbean stories and cultural narratives have substantial potential in the global content market, and with the right marketing and distribution efforts, these stories could appeal to Caribbean diasporas and beyond.
Technology and Distribution Partnerships: Caribbean media can explore partnerships with tech giants like Google and Facebook, which could help increase content reach and tap into ad-sharing revenue. Such partnerships could also help overcome local infrastructure challenges, providing regional content with a larger, global platform.
Investing in Data Analytics: The use of audience data and analytics could transform content strategy, allowing Caribbean media to produce more targeted, relevant, and engaging content. Data-driven decisions not only improve audience retention but also increase ad revenues by offering advertisers better-targeted placements.
“Failed media in the Caribbean is now a crisis. Most major corporate companies over the last few months have announced international deals either on distribution or acquisition. Caribbean media have failed follow expansion in new markets. The management of these companies have displayed bankrupt ideas.”
Learning from International Media Successes and Local Implications
International media companies have responded to similar challenges by investing in multimedia content, restructuring for digital efficiency, and focusing on audience analytics. Caribbean media can adapt these strategies by training staff in digital media, creating multimedia content, and exploring additional revenue streams such as events, merchandise, and branded content.
“That’s because they have something to distribute. Caribbean media have failed to invest in content with global appeal, hence the absence of international deals. Leadership still stuck in traditional models, while the rest of the world is moving ahead.”
The response of international media companies has starkly contrasted with the approach of local Caribbean firms. Companies such as One Caribbean Media and Trinidad Express have witnessed international media players entering their markets through acquisitions and distribution partnerships, leveraging global capital to establish a strong presence in the Caribbean. This expansion underscores the potential for digital-first approaches in the region and highlights the urgency for local media to rethink their business models if they want to remain relevant. With global media’s entry into the region, Caribbean firms are now under pressure to innovate or risk being overshadowed by larger entities with stronger digital and financial foundations.
The challenges facing Caribbean media are complex but not insurmountable.
By embracing digital transformation and investing in globally resonant content, Caribbean media companies can position themselves to engage a broader audience, stabilize their revenue streams, and retain relevance in an increasingly digital world. This transition requires a commitment to both innovation and global engagement—an investment that could transform Caribbean media from struggling local institutions into influential platforms that capture and convey the region’s unique stories on the global stage.
“This shift emphasizes the need for Caribbean media to rethink their business models and strategies to remain competitive in a rapidly evolving market,”
Businessuite News24
JA$2 Billion in Support to Jamaican MSMES
“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.
The Development Bank of Jamaica (DBJ) has been allocated $2 billion in the 2025/26 Estimates of Expenditure to support funding to the micro, small and medium-sized enterprise (MSME) sector.
Minister of Finance and the Public Service, Hon. Fayval Williams, made the disclosure while delivering the opening presentation in the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).
“It (the DBJ) will continue to pursue innovative means of mobilising funding and leveraging private-sector investment and expertise through its venture capital programme, as well as public-private partnerships and privatisation transactions,” she informed.
Mrs. Williams noted the Government’s commitment to the MSME sector, which includes an estimated 422,000 registered small businesses, generating 80 per cent of the jobs in the economy.
Approximately 1,136,240 persons are employed by MSMEs.
The Minister acknowledged that there are several issues facing the sector, including lack of equitable access to financing, high interest rates and cumbersome requirements for opening bank accounts.
“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.
She pledged to work with Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, to reduce the requirements for the entities to open bank accounts.
The Finance Minister noted, further, that Government will be increasing the General Consumption Tax (GCT) exemption for small businesses from $10 million to $15 million.
By: Donique Weston JIS
Businessuite News24
Jamaica Open For High-Value Agricultural Investments – Minister Green
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Corporate Movements: Margaret Campbell Appointed CEO of GKMS Group; Lee-Anne Bruce Named COO
GraceKennedy Limited (GK) is pleased to announce leadership changes at GraceKennedy Money Services (GKMS) as part of its ongoing succession plan and strategic talent development and deployment.
Effective April 1, 2025, Margaret Campbell will assume the role of Chief Executive Officer (CEO) of the GKMS Group. Campbell, who has worked with GKMS for over 25 years, has served as its Chief Operating Officer (COO) since 2020. She joined GKMS in 1996 and has held several leadership roles during her tenure including, Financial Controller, Chief Financial Officer (CFO), and Country Manager for GKMS Jamaica. A Fellow Certified Chartered Accountant, Campbell also holds an MBA in Finance from the University of Manchester and serves on several GK subsidiary boards. She is also the current President of the Jamaica Money Remitters Association.
Frank James, Group CEO of GraceKennedy, expressed confidence in Campbell’s leadership, stating, “Margaret has demonstrated strong leadership and an unwavering commitment to providing exceptional value and convenience to our customers across Jamaica and the wider Caribbean, in keeping with our vision of being the number one Caribbean brand in the world. I have no doubt she will continue to drive GKMS forward.”
Grace Burnett, CEO of GKFG, added, “Margaret’s industry expertise and strategic approach make her the ideal person to lead GKMS into the future. Her experience and passion for operational excellence will be instrumental as GKFG continues to grow and evolve.” The announcement of Campbell’s appointment comes as Burnett, who has led GKMS since 2019, prepares to retire from GraceKennedy later this year.
Lee-Anne Bruce
Additionally, GraceKennedy has named Lee-Anne Bruce as the new COO of the GKMS Group, also effective April 1, 2025. Bruce holds a bachelor’s degree from the Frank G. Zarb School of Business at Hofstra University and is a Certified Anti-Money Laundering Specialist. With over a decade in senior leadership roles at GK, she has served as Group Chief Compliance Officer, Chief Risk Officer, and most recently, Chief Audit Executive. She began her career at GK in 2003, when she played a key role in GKMS’ expansion into the Eastern Caribbean.
Margaret Campbell, incoming GKMS CEO, welcomed Bruce’s appointment, stating, “Lee-Anne is no stranger to GKMS and her extensive experience and understanding of our business will undoubtedly be invaluable in her new role.”
In light of the leadership changes at GKMS, Judith Chung, Group Chief Compliance Officer & Senior Legal Counsel, will act as Chief Audit Executive of GraceKennedy Limited, while Jason Bailey, Head of Risk, will temporarily assume responsibility for the Compliance portfolio.
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