After enduring two years of hardship with limited physical events, Dream Entertainment Limited is gearing up to meet the surging demand for events in Jamaica and across the world.

The company which is mainly known for the iconic Dream Weekend event and Xodus Carnival band had to skip out on hosting festivals in 2021 with the only major event held in 2020 being Dream Weekend. With wider access to vaccines and the removal of COVID-19 restrictions, Dream Entertainment is planning to capitalise on the cabin fever most of the world faced over the last two years.

When asked about the success of the recent Xodus Carnival road march held on July 10, chairman of Dream Entertainment Kamal Bankay said, “It was a great outing for the band and Carnival in Jamaica at large. We felt people really needed to be out on the road and enjoyed it just as much as we enjoyed delivering the experience.”

There were First Rock and Dolla Financial branded trucks during the event with First Rock Group executives Ryan Reid, Dr Michael Banbury and Sherianne Hart appearing in a recent section of the Style Observer.

Yes Iyah Limited purchased the 20 per cent stake in Dream Entertainment from Proven Group Limited (formerly Proven Investments Limited) in July 2021. The directors and principals of the private company include Reid, Banbury and attorney-at-law Sean Shelton. Proven originally bought the stake in Dream Entertainment for $75.28 million (US$570,000) in February 2019. It recorded a US$23,000 loss on the sale of the stake which was valued at US$503,000 in March 2021. The value of the stake declined over time from the original purchase price.

When asked about the contributions of Yes Iyah since joining the Dream Entertainment team, Bankay replied, “They have brought useful talent, knowledge and complementary experience to our operations and governance.”

With entertainment in full swing, Dream Entertainment plans to host its iconic event once again from July 29 to August 1 in Negril, Westmoreland. The online tickets have already been sold-out for the four-day weekend which has a variety of events held on each day. Bankay told the public last year that Dream Entertainment contributes $4.3 billion annually to the economy through its events. The last Dream Weekend had 3,000 attendants who spent an average of US$360 a day for five days which amounted to around $860.25 million. The contribution to the local economy in the Western region over the years was estimated to have been more than US$10 million driven largely through the booking of hotels, restaurants and transportation companies.

“It’s been phenomenal; it feels like the good old days,” Bankay noted, regarding the interest he’s seen so far for the upcoming event.

Dream Entertainment paid off most of its staff during the pandemic and executed more corporate work such as design, traditional marketing, digital marketing, logistics support and various levels of consulting for clients. Dream had a US$340,000 ($50 million) loss in 2021 with Proven recording a share of loss of US$68,000.

“We have worked closely with suppliers to negotiate favourable payment terms that has helped to defray needs for intense capital in the short term. Corporate partners see the value in our brands, our experience and our patrons in particular so we have been able to resume our working relationships with them,” added Bankay as the firm managed its capital ahead of the reopening of the entertainment sector.

The company has added Wray & Nephew, Hennessy, Pepsi, Starlink Productions, Island Strains, the Jamaica Tourist Board, and FX Trader Cambio as sponsors for Dream Weekend. It has partnered with FX Trader to get patrons special rates using a code during the weekend. The company has also partnered with Loud Fashion and Future Energy Source Company (FESCO) Limited as ticket outlets as well.

When queried about only allowing chip cards that require a pin at point-of-sale terminals during the weekend, Bankay explained, “Banks introduced these cards to ensure their customers have another layer of protection, and we support this position. Cash will be an option as usual as well as credit cards.”

Sagicor Bank Jamaica Limited and JN Bank Limited debit cards still only run on the multilink network while all other commercial banks except Citibank N.A – Jamaica having EMV (Europay, Mastercard and Visa) contactless debit cards.

After hosting the Dream cruise and events in Miami and New York, the Dream Weekend event will be held in the European country of Malta between September 8 and 11. Bankay said that other major events will be hosted soon. “We are bullish. Expect to see a lot from us in the coming months. We have major plans locally and internationally,” he said.