The Limners and Bards Limited (The LAB) says it has expanded its business divisions by establishing a new content production department, as part of its strategy in realising its vision of becoming the leading integrated agency and production company in the region.

Previously, the company had three distinct business units — advertising agency, media, and production.

Speaking at the company’s hybrid annual general meeting held last Wednesday, chief executive officer (CEO) Kimala Bennett said this newly formed content department will cover three main channels — content marketing for its brands; digital content; and unsolicited content that includes but are not limited to vlogs, docuseries, podcasts, online shows, and short and feature length film projects.

“What this will allow us to do is add an additional revenue stream. It prepares us for producing those major film production that come [to Jamaica]. We want to position ourselves as the go-to for that, but we also want to start producing our own content because that comes with us having the opportunity of then licensing the content,” Bennett said.

The CEO indicated that the company will continue to build out a digital department with a strong focus on digital strategy, which will allow The LAB to service existing clients while recruiting new ones.

For the financial year ended October 31, 2020, The LAB recorded significant growth in its key business lines. Production grew by $8.3 million or 3.7 per cent, media increased by $199.7 million or 68 per cent, and agency was up by $71.7 million or 63 per cent.

Bennett further indicated that The LAB will soon host a regional competition for content creators in the Caribbean.

According to her, the Pitch Perfect Competition will serve as the main catalyst for The LAB as it becomes chief enablers and facilitators for content creation in the region.

“It’s not just about content but identifying creatives in the region, as well as them seeing [The LAB] as that hub. Content is no longer just king, it’s queen, jack — everything. We are going to be prepared to capitalise on this,” she asserted.

Bennett said too that its newly-launched subsidiary, Scope Caribbean Limited, has received encouraging feedback and interests from clients.

“We’re really in our recruitment phase right now where we are building out the database and we’re pretty close to a 1,000 persons signing up both as talents and as influencers. Overall persons are extremely excited, as are we,” she said, noting that Scope will conduct direct marketing to clients that have already expressed interests and persons who can benefit from this platform.

Scope Caribbean, an influencer and marketing agency, will leverage creative talent and influencers across the Caribbean through a data-driven platform.

Through the platform film producers, casting directors, agencies, and brands from around the world will have access to talent in the region for advertising campaigns, films and TV shows, for brands and influencers establishing or emerging, to endorse their brands

“Scope will offer real time reporting and data analysis, and sourcing of talent and influencers for projects and campaigns in a seamless way, managing of existing brand ambassadors and influencers to ensure the client is able to track performance and return on investment,” Bennett said.

She added, “We have also reached out to the casting agencies, influencer managers, and our plan is to work with them, not against them. This is going to be an enabler for only the brands but influencers as well as persons who manage them”.

For the year ended October 31, 2020, The LAB achieved net profit of $127 million, a 34.1 per cent increase when compared with the previous corresponding period. Revenues for the period under review amounted to $911.7 million, an increase of 44.3 per cent. Total assets stood at $676 million at the end of the 2020 financial year, while shareholder equity also increased by 30 per cent to $464.2 million, up from $356 million year over year. Earnings per share also increased to $0.13, up from the $0.12 recorded in the previous corresponding period.