Respected music producer/songwriter Mickey Bennett is calling on the private sector to invest in live bands amidst the success of Jamaican athletes in Beijing.

Money and philantrophy is to be gained from such investment, he said. The average touring band earns US $1,500 a week, which could serve as returns for investors.
"We are now wondering what the prime minister is going to do to celebrate the Beijing [achievement], and how much money will be spent. We always find money for the celebrations but those who need support they don't get the help, the lunch money..." he said whilst addressing members of the Private Sector Organisation of Jamaica (PSOJ) at the Terra Nova Hotel All-Suites on Wednesday.

The drive called 'adopt a band' is already supported by conglomerate GraceKennedy and forms the nucleus of an initial group of companies to officially launch the drive.
"So far I have got a call from Jimmy Moss-Solomon at Grace and they have agreed to host a press conference to help sell the idea," he said.

Over the years, lots of trained musicians have exited the profession due to lack of the financial and managerial support. For instance, of the 2,000 ska bands touring annually, only two were Jamaicans. "Youngsters cannot afford to pursue their dream. Persons with talent are becoming music teachers with nothing to teach with but recorders," he said. "Imagine if we had 2,000 youngsters going away every week to tour."

The copyright sector, which includes music and its core, contributed $29 billion (US$465 million) to the Jamaican economy, according to a recent government-sponsored study. The data shows that each dollar of foreign exchange invested in leading elements of the core copyright sector about J$6.18 of value added was earned. This is more than similar investments in telecommunications. But commercial banks have shunned the industry: Loans to the entertainment sector were $124 million in 1998 and remained and hit $285 million in 2007 even with inflation and a declining dollar - according to Bank of Jamaica statistics.

However, over the same 10-year period, loans to the communication sector jumped 4.5 times to $8.9 billion last year. Additionally, the favoured tourism sector loans jumped seven times its 1998 figure to $29.5 billion last year.

"We have a tendency to only speak of our superstars when we consider our music and the truth is that these few are the exception. There are far many more practitioners of this craft who we never hear about but who are earning their living in this business. It is to this latter grouping that investors must turn their attention," Bennett declared.

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