Entertainment isn’t just the music we listen to in our surroundings, it is also the value created by creative minds looking to give the greatest experience and moments to patrons at any event. While some question the potential of the orange economy and the professions of those who work in the space, two men proved the potential that exists in the entertainment sector and that creative dreams can be the gateway to success for thousands of Jamaicans. Today’s corporate profile highlights the Main Event Entertainment Group Limited founded by Solomon Sharpe and Richard Bair.

Before the co-founders reached where they are today, Solomon Sharpe was a team member of the Desnoes and Geddes’ (Red Stripe) sales, marketing, and public relations division while Richard Bair worked at Cable and Wireless where he created seamless operations and match tools to increase efficiency. Both men were promoters and did events on the side through entertainment promotion company Ras Promotions. It was during this time that they noticed a void existed in the entertainment space when it came on to not only the execution of events but connecting younger consumers with brands.

One day Bair approached Sharpe and questioned what he was doing with his life as he had built up his skillset over the years, along with a wide range of contacts. Sharpe was flown to Ireland by Guinness Brewing Worldwide on a familiarisation trip to understand the whole branding platform from a First World view. This instantly connected with Sharpe, who had grandiose thoughts and plans at the time.

When Smirnoff Ice wanted to do its launch in Jamaica, they approached Ras Promotions, which they believed could launch the brand in an exciting and fun way. This was at a time when both men were trying to figure out life. However, Sharpe saw an opportunity to create a difference in the space and asked Bair to join him on that journey. Thus, Main Event Entertainment Group Limited was created on June 15, 2004.

“I looked on Richard, who had a full-time job, and I said I think it’s time we go on an adventure. We did a couple gigs before that on an informal basis, and we realised this kind of business should not be done in an informal manner. I looked on him and said it’s time to make a move, it’s time to do something big and knock it out of the park. We created Main Event and the rest is history,” said the Main Event CEO in an interview with the Jamaica Observer.

Main Event has described itself as an event management, digital signage, and promotions company. The company has organised and managed events such as the Inter-secondary Schools Sports Association Boys’ and Girls’ Athletics Championships, the RJR Sportsman and Sportswoman of the Year Awards, Major Lazor concerts, the Jamaican Rum Festival, the Wray and Nephew Contender, and even the once-iconic Sting. These impressive set of events represent some of the events Main Event has worked on locally, with the company’s wings spreading into other parts of the Caribbean.

With events continuing to be of a grander scale and clients demanding more intricate ideas, Main Event began to add more equipment to its line-up to reduce the cost of renting from the competition but also to ensure that they could deliver at the standard they believed was right for the client. This meant that the co-founders sought out debt from the banks, not collecting a pay cheque, and deferring dividends as they continued to reinvest in the business. This has served the company well over the years as their property, plant, and equipment stood at $400.67 million as of July 31.

“For all intents and purposes Main Event is really an intellectual property business, and we don’t see boundaries. Having gone into the space and wanting to deliver in a grand scale at international standards, what we realised is that the vendors that we had to select from then didn’t understand the vision, the scope, and structure and the level of delivery that we wanted. The whole event space and experience space in Jamaica needed some quick expansion, and as we meet upon the road blocks we’re not one to be held captive. We started to remove the roadblocks, brought structure to the business, and we took some real risk,” said Sharpe on the company’s early decisions and plan to overcome obstacles.

While the business was continuing to grow and scale, Main Event had to face the perennial issue in Jamaica, which is negotiating with banks to actually receive financing.

“They just didn’t understand our space. When I was selected for 50 under 50 in Jamaica and we had the mentorship dinner with Michael Lee-Chin, one of his executives that works with him globally said our banks just don’t know how to lend. We had to sit for hours and hours with our bankers to illustrate our business model. So we had to bring our transparency before going public to bring a certain level of openness with our business to have our bankers gain confidence in us,” Sharpe added.

It was only when Sharpe pointed out to a member of the credit committee at an event the lights, speakers, and screens which were in use did it [banks] begin to build an emotional connection and have a greater understanding of what the business does and how it generates its income. This was one of the hurdles that Main Event faced early on but has since overcome as reflected by the bank’s confidence in the company during the novel coronavirus pandemic.

With the company scaling at an accelerated speed, they had to look at what options were available for them to expand. While they had already built a solid relationship with their banks, the co-founders believed that listing the company on the Junior Market of the Jamaica Stock Exchange would support their initiatives better as they continued to grow. While Main Event only sought $120 million in its initial public offering at $2 per share, it received $673 million in subscriptions from 1,056 applications. The company listed on February 8, 2017 in what was the first listing since the Junior Market incentives were reinstated by the new Government. It was also the first time that the prime minister and minister of finance had ever attended a listing ceremony together. Sharpe described this as one of his proudest memories.

“Prior to going public and after going public we started to push a little more of who we were and what we were. I think that’s when people were amazed to learn that we had a team of 200-plus strong. I think that also created a greater connection and they realised that this business is not just a business good for its business, but it’s good for the economy,” Sharpe added on the value of the creative economy.

Although the company faced a hard battle during the pandemic, it is bouncing back and is ready to grow its equipment base and M Style and M Academy divisions. It also plans to form a production compnay with Supreme Ventures Limited and export its services even more to the rest of the Caribbean. Sharpe is also thankful for the guidance of Harriat Maragh and other people along the way.

“It’s been a tough road, but it’s been a fun and exciting road. If I had to do it all over again, it’s been so stressful, then I’d definitely do it all over again,” Sharpe said on his journey so far.

“Don’t be afraid to try new things, don’t be afraid to fail, don’t be afraid to make mistakes. If you’re afraid to act, that’s the worst thing that you’ll have ever done. You have to go out there and take risk. Get a mentor, a set of advisors, and have a cadre of persons you seek advice from, including financial institutions,” Sharpe closed on his advice to young and up-and-coming entrepreneurs.