Showing posts with label spend. Show all posts
Showing posts with label spend. Show all posts

Monday, February 17, 2014

Spence triples creative sector spend for Ja then heads to Australia

BY STEVEN JACKSON


Friday, February 14, 2014    


FORMER JAMPRO film commissioner Kim Marie Spence has secured a prestigious doctoral research position in Australia which involves some undisclosed research on Jamaica.


She resigned from JAMPRO — the Government’s marketing agency — after tripling expenditure to the creative sector to just over $1 billion. She also reflected on shifting the once Hollywood-centric film commission to one centred on developing local films.


“It is a whole new world. I am in Australia on an Australian Award, doing post-graduate/doctoral research. Of course, it will involve research on Jamaica. I was interested in this opportunity as it gave me time to step back from the daily ‘fire-fighting’ and implementation that my former position required and look at wider best practices, principles and issues involved in designating the creative industries as a key part of Jamaica’s growth strategy,” she said in a mailed response to Caribbean Business Report queries. Follow-up queries on the precise nature of this research were unavailable up to press time.


Spence, whose scholarship and fellowships are funded by the Australian Government, studied at Oxford as a Rhodes Scholar and also Wesleyan University. A little over a decade ago, she reportedly left a high-paying job on Wall Street to follow her convictions. Shortly after she became executive director at the think tank Capri (Caribbean Policy Research Institute) before venturing to JAMPRO as film commissioner.


Spence’s remit at JAMPRO encompassed the creative industries which includes film, photography, music, and dance. Total expenditure from that sector facilitated by JAMPRO more than tripled year-over-year to $1.16 billion up from $313 million, according to data from the Economic and Social Survey 2013 published by the Planning Institute of Jamaica. Government has hailed the 2012 results, while critics have describe 2011 as a down year.


Spence, however, oversaw the waves of expenditure since assuming the position in 2010. “As for numbers; I doubled the numbers in the first year and it was upward bound from there… However, there is lots more that it is hard to count,” she said.


Spence resigned and left JAMPRO about a month ago and quickly entered her programme in Australia. JAMPRO has yet to announce a new film commissioner.


“The highlight of my tenure at JAMPRO was the change in direction,” she said. “When I came in, there was a focus on Hollywood. However, given Jamaica’s fiscal situation, we could not realise the work from there, which was quite incentives-driven. We started looking at the audio-visual industry as a whole. This refocus was one that had been done in the industry itself — with the rise in the importance of television series, reality series and animation.


“Out of this refocus came the present animation initiative within which we facilitated ToonBoom. Also came the focus on reality television — ANTM — among many others,” she said.


Animation was the latest thrust by the commission seen as the new outsourcing frontier by Government. However, that was only half the story, “as there was little focus on the work Jamaicans were doing”. Under her watch, a barrage of local films entered cinemas and established directors and actors as stars.


“This is the sustainable aspect of the strategy — Jamaica as a (film and television) content generator. This is key from an economic and also a cultural perspective. I reached out to the distribution side of the business to facilitate greater knowledge of the kind of work Jamaica was producing,” she said, pointing films Better Mus Come, Ghetta Life, Songs of Redemption, One People, and television shows Mi an Mi Kru, Island Rockers, Beenie Man, etc.


“We were preparing Jamaica as a place to come and invest in content,” she reasoned.


The commission also looked beyond the USA and strengthened ties with the diaspora in a bid to ink distribution deals. “There is scope for some amount of Caribbean distribution and the African market, which continues to unfold; and the European market, particularly Germany with Hill an’ Gully Ride.


But financing and more rigorous data remain a perennial challenge for the industry, she reasoned.


“Jamaica is at a crossroads where we need to invest in growth areas — the new and the old. In addition, the world is changing and the new growth areas now are not very familiar — creative industries/entertainment, technology, logistics. The creative industries is an area that many do not understand… and do not take seriously, she said.


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Spence triples creative sector spend for Ja then heads to Australia

Saturday, September 7, 2013

European clubs spend $2.3B on player transfers

LONDON, England (AP) — The world’s richest football league is getting even richer, although the wealth of English clubs is also benefiting teams overseas.

In less than three months during the European transfer window, more than $2.3 billion was spent by clubs in the continent’s top five leagues — with a third of that shipped by Premier League sides overseas, according to an analysis by accountancy firm Deloitte.Such spending might seem at odds with the economic hardships being experienced by many fans, but the transfer window splurges are not slowing down.Even though there are relatively new Financial Fair Play regulations in European football, the days of the big-money moves are not over.“If a price of a player is high or not high, I think this is the market and we cannot intervene in this market,” FIFA President Sepp Blatter said yesterday. “It is definitely a European market.”In less than three months, £490 million (US$760 million) of the £630 million (US$980 million) paid out by English sides landed in bank accounts abroad — up 60 per cent year-on-year.The record spending spree, though, was in part the result of Tottenham generating 100 million euros (US$132 million) by selling Gareth Bale to Real Madrid in a world-record deal.Even though Spaniards have been in recession for much of the past four years, they turned out in their thousands on Monday to laud the arrival of a player reportedly being paid around 350,000 euros (US$461,000) a week.The head of world football can see how incongruous that looks.“You say the country is a poor country or indebted, but in football you always find money,” Blatter said. “If a player is the value of that (100 million euros), I doubt, I doubt, but I cannot stop this. Gareth Bale, he can prove now that he is better than (Cristiano) Ronaldo.”Spanish top-flight clubs, however, did make an overall transfer profit in the summer of 110 million euros (US$145 million) and Italian sides had a 12 million-euro (US$16-million) surplus.Financial planning wasn’t so astute elsewhere.Net spending by Premier League clubs was £400 million (US$622 million), while the figure was 150 million euros (US$198 million) in France, and 60 million euros (US$79 million) in Germany.The spending power of England’s top-flight clubs has been strengthened by new television deals that are generating more than US$8.5 billion over the next three years.“Testament to the impact (the TV revenue) is having is in the scale of Premier League gross spending, as well as the gulf in net spending between the Premier League and other European leagues,” said Alex Thorpe from Deloitte’s sports division.“Whereas many clubs around Europe have been reliant on selling players in order to spend, the financial advantages Premier League clubs enjoy have enabled net spending of £400 million across the league.”Around £140 million (US$218 million) was shelled out by Premier League clubs on the frantic final day on the transfer window, with Arsenal scrambling to break their transfer record to bring Mesut Ozil from Real Madrid for a club record 50 million euros (US$66 million).Deadline-day can create a frenzy, with champion Manchester United managing to squeeze just one notable deal over the line — Marouane Fellaini joined from Everton for £27.5 million (US$43 million) — despite months pursuing talent across Europe.Despite calls to close the transfer window before the season starts, finding an agreeable date across Europe is tough.“I agree it is too long but the whole world is involved and don’t play at the same time as we do,” UEFA President Michel Platini said. “The clubs also want to have transfers finished before the start of their competition.

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European clubs spend $2.3B on player transfers

Wednesday, July 10, 2013

Deloitte: Qatar to spend $200 billion for WCup

Sport

Wednesday, July 10, 2013

DUBAI, United Arab Emirates (AP) — A report from Deloitte says the oil-and-gas rich nation of Qatar plans to spend $200 billion over the next decade as it prepares to host the 2022 World Cup.The report, released yesterday, said $140 billion of that will be for transportation infrastructure including a new airport, roads and a metro system to deal with the 400,000 fans expected for the month-long tournament.Another $20 billion will go to tourism infrastructure as the Persian Gulf nation expects the number of tourists to reach 3.7 million annually by 2022.Qatar was awarded the World Cup in December 2010, beating out the United States, Australia, Japan and South Korea. It was a surprise choice considering the summer heat exceeds 40 degrees (104 F) in the desert country.

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Deloitte: Qatar to spend $200 billion for WCup