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The Caribbean Peer Awards Academy

Published

3 months ago

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Who Is The Ideal Member?

Membership in The Peer Awards Academy is geared towards Professionals in all fields of marketing management, market research and aims to span every aspect of business: Manufacturing, services, distribution (wholesale and retail), academics (sales and marketing educators), and students of marketing.

Voting in the Peer Awards is restricted to professional marketers, in that they perform a marketing function for which they were paid.

Professional marketers and or the companies they work for should be a member, in good standing of at least one of the following types of associations or organizations in their country of residence in the Caribbean.

For Jamaica the following would apply:

(a) Public Relations Society of Jamaica

(b) Advertising Agencies Association of Jamaica

(c) Advertisers Association of Jamaica

(d) Media Association of Jamaica

(e) Jamaica Association of Marketing Professionals

(f) Jamaica Manufacturers Association

(g) Jamaica Chamber of Commerce

(h) Private Sector Organization of Jamaica

(i) Women in Film & Television Jamaica Chapter

(j) Life Underwriters Association of Jamaica

(k) Jamaica hotel & Tourist Association

(l) Jamaica Film Producers Association

Marketers or their companies who are not members of any of the above organizations would need to be registered with one of them and maintain such membership to remain eligible for voting.

Qualified marketers accepted to the Peer Awards Academy will among other benefits be allowed the rights and privileges to vote in the Peer Awards each year.

All applications are subject to acceptance by the Peer Awards Academy Members Committee and the PEER AWARDS Foundation Board.

Membership will be free in the first year, with a membership fee to be paid in each subsequent year to remain eligible for membership.

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Businessuite News24 International

Netflix Could Open A New Chapter For Streaming

Published

6 days ago

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May 21, 2022

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“We rely on transparency. We can’t control what we can’t see. We require persistent identity.” – Josef Kenik, “Anon,” K5 Films, 2018
In California, where we live, people bid on the average of seven homes before they finally get one they want/can afford.

When we visit Puerto Vallarta and see something we kinda like at the mercados, we’ll visit at least four stalls before mutually agreeing on a price we’re willing to pay … one we feel is good for us, good for them.

And that, my friends, is how most people choose their entertainment services.

O.K., there’s a segment of the viewing public that can only enjoy something if it is free (pirated) but there’s a pretty easy way to stop/slow the thieves. MESA (Media & Entertainment Services Alliance) has a whole group of folks who have developed solutions to protect content from beginning to end – https://tinyurl.com/4zp3rap2 – “because we want you to make it difficult for the ‘totally free’ folks.”

If those users dislike streamers capturing/using their info, what do they think the Torrent sites do? … jeezz!

As for the industry, we’ve never figured out why services brag about how many times a movie/series is pirated. It’s not only money out of their pockets but it also means the rest of us foot their bill!

Piracy costs streamers an estimated $30B plus every year and password sharing (freeloading) costs about $6B.

It’s not free advertising!

Every streaming service is saying enough is enough.

Despite Netflix’s miserable numbers for the 1st quarter, the bottom didn’t fall out of SVOD…far from it.

But SVOD has reached a point where it has to evolve.

No one really knows what the next phase will look like, but everyone has an opinion.
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Change – Netflix started the change in home entertainment back in ’97 when it bypassed the box stores to send folks DVDs direct to their home. Now it’s time for the next phase.
In August 1997, Netflix sent out its first red envelope (which started out white) and at their peak were sending out 12M DVDs a week.

In 2007, the company turned on the streaming spigot. Demand for new, unique content grew to 221M plus.

There are still 2M plus folks out there who want the envelope.

When they were “the only game in town,” studios fell all over themselves to have them distribute their film/series titles … until executives figured out they could do that too and make even more money.

In a little less three years, nearly all of the studios have reshaped their theatrical priorities and networks, moving from the day/time TV bundle to their own any time, any place, any screen service.

They all want to be the place where a subscriber will go so they can charge a fee based on “the value” of their content (translation … as much as they can get).

After all, $20/mo. is a lot less than the old $200/mo. subscribers used to pay for that overweight cable bundle.
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Content Spend – Consumers don’t just want movies and shows to watch; they want original content. People in different countries also want different content which has stimulated greater opportunities for content creators to develop material for home and abroad.
There are more than 300 SVOD/OTT services around the globe and that is expected to grow to 600 by 2025. All are focused on capturing their share of the 2B subscriber market by spending billions on “new, unique” content because … content is king.

Streaming investments led by Comcast, Disney and Netflix saw the global spend on content reach $220 billion in 2021 with the pot set to exceed $230 billion in 2022, according to a new report from Ampere Analysis.

In the US, 80 percent of TV households or 122.4M, have at least one SVOD service while the average number of services per household is four, according to Ampere Analysis.

In addition, the average churn rate is 35 percent.

Tough but tolerable.

Consumers will spend about $82.5B this year for subscription video content or $69.49 ARPU (average revenue per user).
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It’s Not One Form – Contrary to what some folks would like you to believe, the world isn’t all about streaming. In every country, there are a variety of ways people get their entertainment and that will continue.
But around the globe there are home/personal video entertainment options available that people can spend money on for ad–free services as well as less expensive and ad–supported services.

To entice folks to its service, Netflix set the bar high by signing multiyear contracts with leading content producers/developers and then funding/controlling the resulting projects.

That worked great by serving up popular shows like Ozark, Orange is the new Black, House of Cards, Stranger Things, The Crown and more. They’ve even shown the industry that regional shows have global audience appeal.
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Time for Change – Netflix, and the entire content distribution industry, has quietly tolerated people sharing SVOD passwords. However, it’s impacting everyone––even though folks have said, “hey if it wasn’t so easy, we’d change.” Now, it’s time to take back control.
Netflix took a page from Hollywood and bragged about how many Torrent downloads – free word of mouth advertising – projects it had.

They really wanted to recover some or all of that revenue but …

While Netflix has tiptoed around the password sharing issue for a long time, most recently by offering phased pricing for friends and family viewing.

The test program was a resounding failure coming at the same time the company increased monthly fees which after years of overlooking password sharing didn’t go over well … to say the least.

Went over like a lead balloon.

Long time content producers/servers like HBO Max, Disney, Hulu, Amazon, Apple have had password protection capabilities and enforcement from the outset, so password sharing is minimal and aggressively discouraged.

Netflix, the globe’s leading SVOD by a wide margin, invested heavily in local content development which has helped them grow nicely in 190 countries in regions like the EMEA (Europe, Middle East, Africa), SEA (Southeast Asia) and LatAm.

But the service has always been a lot like Henry Ford’s Model T observation, “You can have it in any color you want, as long as it is black,” or in their case, all the content at one set fee.

Have they been considering growth options?

Sure!

The most tangible action has been its video game acquisitions (Next Games, Night School, Boss Fight) to tap into the lucrative, constantly connected Gen Z (10–24 years) $6B download and streaming gaming market.

It has worked … the games have attracted the younger crowd to its platform and its shows.

But offering tiered pricing options is something Hastings has resisted for years.
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Oh Yeah – It’s fun – and deadly – to believe that people hate ads which is why they click away. But they don’t hate ads … they hate bad, moronic, boring, repetitive, sloppy ads.
Snobs have been drinking the Kool–Aid … people cut their cord to escape advertising.

BS! Study after study has proven that’s not the case.
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Bad, Too Many – Consumers have consistently said they are willing to exchange their time to watch ads with their content as long as there aren’t so many and that they’re relevant. All services and marketers have to do is listen/act.
We’re not a reverse snob but we like ads … good ads.

We don’t like 20 minutes of ads an hour.

We don’t like the same stupid ads again … and again … and again …

That’s probably why advertising exploration/explanation was such a hot topic at NAB (which we covered earlier); and Hastings is right … there’s a lot of work to be done! And people want choices.
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Value – People are clearly willing to watch good advertising along with their content as long as ads don’t dominate the content airtime.
But Hastings and Netflix now have the opportunity to take the lead again not only with the content creation industry and the consumer but, more importantly, in helping the ad folks clean up the crap and do things right.

Netflix has the richest (most valuable) database of global viewer information (followed closely by Amazon and Apple) which can be used by the company to educate, assist marketers in developing more effective ads, understanding the best balance of ads and how to create ads people interact with as much as they do with the firm’s entertainment content.

Much as advertisers would love to have access to that data, it shouldn’t be shared.

The company needs to use the information to help advertisers give viewers a better experience when they view and interact with the ads.

Of course, it starts by Hastings making good on one the company’s founding precepts – giving consumers choice.

Sure, it will undoubtedly be expensive in the short term as an unknown number of subscribers shift to the lower–cost options.

That will only give Wall Street yoyos who only a short time ago were pushing folks to buy their stock to say, “See, we told you they couldn’t do it.”

However, many will stick with their ad–free status, others will “adjust.”

More importantly, it will increase the number of people/households using the service and mitigate churn.

Hastings has already signaled that the company will examine its options over the next year or two and make decisions that are right for the content creation industry, global consumers and last, but not least, investors.

Turning the industry leader won’t be easy or free of pain but in putting a positive spin on the change of heart Netflix COO Greg Peters said adding ad tiers, “is an exciting opportunity for us.”

The ceiling for Netflix isn’t 222M subscribers.

The ceiling is really 1B plus folks around the globe who want their entertainment when they want it, where they want it and, on the screen they have in front of them.
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Market Share – Netflix has clearly established itself as the benchmark for watching original content around the world. It’s possible for the company to maintain that leadership and develop content delivery solutions that will satisfy everyone … including shareholders.
Tiered service options that include efficient, effective, intelligent ads will give folks the opportunity to watch what has clearly been the most sought–after content in a way that is budget friendly and treats them as intelligent individuals instead of targets.

Netflix has the data, infrastructure, experience and understanding of UI as well as recommendation and integration capabilities.

They offered something totally unique that people came to want/expect back in 2007; and now, they have a chance to do it again.

They enriched the content creation/distribution market before and now they have a chance to repeat it in the years ahead.

There was certainly plenty of interest at NAB on how content providers and marketers could improve the quality and effectiveness of advertising.
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Netflix might have the opportunity to take it to the next level.

The goal for everyone is to understand and interest folks, keeping in mind what the Girl in Anon said, “It’s not that I have something to hide. I have nothing I want you to see.”

Imagine getting ads in your content that you stick around to watch instead of running to the kitchen or bathroom.

It could happen, but it’s going to take time.

It’s not an end to original content creation, but it could improve ads.

Think about it … sitting there watching original content advertisements.

# # #
 
Andy Marken – andy@markencom.com – is an author of more than 700 articles on management, marketing, communications, industry trends in media & entertainment, consumer electronics, software and applications. An internationally recognized marketing/communications consultant with a broad range of technical and industry expertise, especially in storage; storage management and film/video production fields; he has an extended range of relationships with business, industry trade press, online media and industry analysts/consultants.

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Businessuite Markets

The LAB 2021 Annual Report – Moving Along A Path Of Increased Profitability And Revenue Growth.

Published

2 months ago

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April 12, 2022

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The following is an extract from the The LAB 2021 Annual Report

Financial Highlights
For the financial year ending October 2021, The LAB continued along a path of increased profitability and revenue growth. Revenue and net profits grew by 34.7% and 22.4% respectively. Shareholder equity also increased by $51.4 million to $515.7 million, up from $464.2 million year over year and return on average equity delivered to shareholders was 28.8%.

Revenue
During the year 2021, we generated a significant increase in revenues of $316.0 million to $1.2 billion relative to the prior year. This was attributable to significant growth in our key business lines; Production (up $147.9 million or 63.21%) and Media (up $172.9 million or 35.14%), even though there was a marginal decline in Agency (down $5.4 million or 2.94%).

Profitability
Gross profit increased by 25.8% or $77.1 million relative to the previous year. Also, our net profit was $155 million which was $28.4 million higher than the previous year. Return on equity for the year was 29.8% and earnings per share increased from $0.13 to
$0.16.

Payment of Dividends
We are pleased to advise that on December 29, 2021 our Board of Directors approved a resolution to declare a final ordinary dividend of $0.0133 per share and a Special Dividend of $0.038 per share. These payments were made on January 31, 2022, to all shareholders on record as of January 13, 2022.

Outlook
Propelled by last year’s progress, for the 2021 financial year, The LAB was able to facilitate marketplace innovations that directly aligned with our mission to become the leader in integrated marketing and production in the region. While the year 2020 will be forever remembered as the year everything changed, at The LAB, the year 2021 became the year for realigning and operationalizing in response to the transformed creative landscape.

As the creative industry landscape evolved, we correspondingly realigned the Company’s strategic vision, redefined performance metrics measured against internal targets and external benchmarks, both regionally and internationally.

Financial (including cost optimization and risk management) and non-financial (including client satisfaction, employee engagement and innovation) measures were utilised to monitor our performance periodically, from daily and weekly to monthly, quarterly and annually.

Changing Trends & Innovation
The Company, for the 2021 financial year, continued executing its five-year strategic plan. The LAB saw a five-year innovation timeline accelerate to within a year as both the society and economy were digitised at meteoric speeds. The rapid growth in online platforms like TikTok quickly signalled to us that the pandemic was accelerating the trends on which we based our vision for The LAB, such as having a borderless company, the explosion of digital experiences for customers, and the growing demand from clients for simple, integrated solutions that combine outstanding creativity with data and technological skills.

The actions taken during 2019 and 2020 to streamline our operations including establishing and hiring specifically to address media and digital innovation meant that we entered 2021 with a strong financial position. Although the effects of the pandemic have been devastating on local and regional economies, the Company posted a noteworthy performance for the fiscal year.

This financial success can be attributed to a number of factors including the implementation of cautious, pre-emptive cost containment measures and guiding, and collaborating with our clients virtually, to ascertain their needs and provide inventive solutions, as their companies navigated the effects of the pandemic. The close relationships with our clients, allowed us to understand their requirements, react quickly to changing consumer behaviour and recommend and create solutions to deliver on clients’ needs.

Kimala Bennett, the CEO and founder of The LAB

More information https://www.jamstockex.com/wp-content/uploads/2022/04/The-Lab-Annual-Report-2021-Web-compressed.pdf

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Businessuite Markets

Media Placement Driving Limners And Bards Revenue Performance For Quarter Ended January 31, 2022

Revenue for the three-months was $443.4 million, up 24.5% compared to $356.2 million for the corresponding period last year. The revenue growth is attributable to increases in the company’s core business, media placement (up $93.2 million or 62.2%) and advertising agency (up $3.6 million or 6.4%). Production was down $9.6 million or 6.4%.

Published

2 months ago

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March 18, 2022

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Revenue for the three-months was $443.4 million, up 24.5% compared to $356.2 million for the corresponding period last year. The revenue growth is attributable to increases in the company’s core business, media placement (up $93.2 million or 62.2%) and advertising agency (up $3.6 million or 6.4%). Production was down $9.6 million or 6.4%.

Gross profit increased by $27.6 million or 24.0% over the previous three-month period. Gross profit margin was stable at 32.2% compared to the 32.3% in the prior period.

The net profit includes finance income of $0.9 million (3% of net profit) compared to $7.0 million (11% of the net profit) recorded in the corresponding period of the previous year. However, if adjustments are made for the losses from Scope and finance income, the net profit would have been $66.6 million versus $60.0 million, an 11% increase over the prior year.

Administration expenses have increased by $22.3 million, or 41.8% in comparison to the corresponding three months period in the prior year. These increases are primarily attributable to staff costs, repairs and maintenance of production equipment and depreciation and amortization costs.

The consolidated balance sheet shows total assets increasing over the previous year by $253.2

million or 37.2% to $934.0 million. Current assets increased by $208.8 million mainly due to a

$161.5 million increase in receivables and a $58.0 million increase in cash and cash equivalent.

Outlook

While the COVID-19 pandemic continues to pose a challenge to us resulting in increased costs, we continue to act proactively and implement facilities to protect our staff and clients. Our Work from Home program has proven effective as we minimize exposure of our staff and at the same time maintaining team productivity and engagement.

Based on our focus on product and service innovation we remain confident in our future.

Kimala Bennett Chief Executive Officer Limners and Bards Limited

More information : https://www.jamstockex.com/wp-content/uploads/2022/03/The-Limners-Bards-Limited-January-31-2022-final-for-JSE-signed.pdf

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Marketing & Advertising

The Peer Awards Academy Professional Membership Application Information

Published

3 months ago

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February 25, 2022

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To apply, please  submit the following membership information below. If you would like more information about membership in The Peer Awards Academy or the application process, please specify your questions in the comment box below.

Name: (Mr/Mrs/Ms.)
First
Middle
Last

Gender:
o Male
o Female

Employer/Institution:

Title:

Email:

Phone: Mobile Work Other

Work Address:

City/Town

Parish:

Postal Code:

Country:

Title Category (SELECT ONE)
o Academic/Professor
o Account Executive/Director
o Analyst
o Assistant/Coordinator
o CEO/President
o CMO
o Consultant
o Director/Sr. Director
o Manager/Sr. Manager
o Other C Level
o Principal/Partner
o Student
o Vice President/EVP
o Other

Interest/Responsibilities (SELECT UP TO 4)
o Academia
o Advertising
o Analytics/Metrics
o Branding
o Career Development
o Consumer Products/ Packaged Goods
o Customer Strategy
o Database/CRM
o Digital Marketing
o Direct Marketing
o Global Marketing
o Marketing Communications
o Marketing Research
o Mobile Marketing
o Product Marketing
o Retail Marketing
o Sales
o Social Media
o Strategy
o Other

Industry (SELECT ONE)
o Advertising
o Arts and Entertainment
o Automotive
o Consumer Products/Packaged Goods
o Education
o Financial Services
o Food and Beverage
o Government/Public Admin
o Health Care Services
o Hospitality/Event Management/Meeting Planning
o Insurance
o Manufacturing
o Marketing Research
o Non Profit
o Pharmaceuticals
o Professional Services
o Publishing/Broadcast/Internet
o Real Estate/Rental and Leasing
o Retailing
o Technology
o Telecommunications
o Transportation and Warehousing
o Travel and Tourism
o Utilities and Energy
o Other

Company Size (SELECT ONE)
o 1 to 9
o 10 to 49
o 50 to 249
o 250 to 999
o 1000 to 4999
o 5000 to 9999
o 10000 to 24999
o 25000 employees plus

Primary Focus of Business (SELECT ONE)
o Business to Business (B2B)
o Business to Consumer (B2C)
o Both

Years of Marketing Experience (SELECT ONE)
o Less than 5
o 5 to 9
o 10 to 19
o 20+

Highest Degree Attained (SELECT ONE)
o High School
o Bachelors
o Masters
o Doctorate
o Decline to answer

How did you hear about The Peer Awards Academy?
o A friend‎
o Facebook‎
o Twitter‎
o Newspaper‎
o Yellow Pages‎
o other:

Which best describes your main reason for wanting to join The Peer Awards Academy? (SELECT ONE)
o Local chapter events/activities
o National conferences/training
o Local networking
o National/global networking
o Member-only content (website/publications)
o Get involved with the local chapter
o Joined with national event registration
o Certification/Online Learning
o Resume builder
o Other, please specify

Member Referral – Indicate at least one member of The Peer Awards Academy as a referral.
Member Name:
Contact Number:
Member Reference #:

Comment

 

 

Statement of Ethics
As a member of The Peer Awards Academy, I agree to abide by The Peer Awards Academy Adopted Statement of Ethics, embracing the highest ethical norms and values for marketers.
(1) Marketers must first do no harm.
(2) Marketers must foster trust in the marketing system.
(3) Marketers should embrace, communicate and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing exchange system.

Any Peer Awards Academy member found to be in violation of the above Statement of Ethics may have his or her Association membership suspended or revoked.
In order to validate your application, please sign the Statement of Ethics.

I subscribe to the Statement of Ethics and will adhere to it:

Signature______________________________________________ Date _____________

Digital signature
In submitting this Online Membership Application, I certify that the above information is correct and complete and do hereby agree to abide by the T.O.S.

Return your complete form via email to:

Membership Application : caribbeanpeerawards@gmail.com

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Marketing & Advertising

2022 Caribbean Peer Awards Nomination Categories

Published

3 months ago

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February 24, 2022

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Nomination Categories confirmed to date others to be confirmed

PERSONALITY

Marketing Personality of the Year
Producer of the year – TV Commercial
Producer of the year – Radio Commercial
Media Personality of the Year – TV
Media Personality of the Year – Radio
Media Personality of the Year – Online
Public Relations Personality of the Year
Sales Personality of the Year
Creative Director of the Year
Graphic Designer of the Year
Best Director of the year – TV Commercial

Advertising Agency of the Year for 2022

Best Technical/Artistic Achievement :
This award will be presented to a participant in the production of the television commercial other than the director whose visual input artistically and/or technically has added to the success and effectiveness of the spot. The award is open to Cinematographers, Art Director, Graphic Designers, Editors, Animators and others, who all are based in Caribbean and have achieved the nominated work on the island. Commercials, where the animation and/or editing have been done overseas, cannot qualify in these areas.

Special Categories

Caribbean Peer Awards Brand Master
The Peer Awards Brand Master is an Individual or Corporation who has clearly and without question demonstrated an ability to conceive and launch brands successfully and profitably, that have stood either or both, the test of time and competition.

Break Out Brand of the year.
Breakout Brands are brands born and from the Caribbean region that now have a major impact and presence on markets outside of the region and designated international brands. One (1) of these brands and the individuals/corporations responsible for their success will be honoured and designated Caribbean Peer Awards Breakout Brand for 2022.

WORKS

Best blog – corporate/company site
Best Website – corporate/company
Best online media campaign
Best online advertisement
Best media website

Best TVAdvert
Viewer’s Choice Best TVAdvert

Best RadioAdvert
Listener’sChoice Best RadioAdvert

Best Newspaper Advert
Best Online Newspaper Advert
Reader’s Choice Best Newspaper Advert
Reader’s Choice Best Online Newspaper Advert

Magazine Advertisement of the Year (Printed & Digital)

Best Out of Home Advert
Reader’s Choice Best Out of Home Advert

Best Marketed Event of the Year
Consumer Promotion of the Year
Campaign of the Year

• There is no entry fee for Nominations submitted for Personalities

• A fee of US$10.00 is to be paid for each individual work nominated, acceptance of nomination is subject to receipt of this payment in either cash or managers cheque payable to the PEER AWARDS FOUNDATION.

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