Hey Insiders, 

It’s the 9th issue of Silicon Caribe Insider where we’re talking about Bob Marley’s One Love Biopic, even though not everyone is feeling alright about it.

IN THIS WEEK’S SCI

• The Lead: Bob Marley’s One Love Biopic is a Movie, Music, and Merch Masterclass

• Caribbean Tech News: Ai Policies Coming to Jamaica

• Global Tech News Shorts: Ai is creating more major market shifts

•  Flashback: A Moment in Caribbean Tech History: Where did you buy Reggae Music Online 13 years ago?
  

THE LEAD

Bob Marley’s One Love Biopic is a Movie, Music, and Merch Masterclass

Giving the armchair critics something else to TikTok About.

Paramount Pictures Bob Marley: One Love Biopic is a great content marketing play that will boost Merchandise Sales and publishing catalog value for investors and the Marley Estate.  It’s a Masterclass in timing, the business of leveraging your creative work, and the tough choices in balancing legacy and capitalism.  Let me show you the Posthumous Business Side of the Reggae Legend.

About the Movie

Paramount the American movie studio, spent US$ 70 million to make, market, and distribute One Love BioPic, and as of writing this, it’s made just over US$80million since its release on February 14th, Valentine’s Day. It is the number one movie in America this week and the Reinaldo Marcus Green-directed biopic is now out in 47 overseas markets on a like-for-like basis including previews is 14% above Elvis and 12% above Rocketman for the same grouping, making it the second biggest music biopic opening behind only Bohemian Rhapsody.

And while the online armchair critics heap polarised ratings and recommendations on who and what should have been in this movie, we’re here to talk business.

Let’s start with the list.

Making the List

In its 2023 list of highest-paid dead celebrities, Forbes placed Marley in the ninth slot, right behind former Beatles frontman John Lennon. According to the publication, The Marley Estate earned US$16 million that year. In 2022 Marley didn’t make the Top 13 of the Forbes list and at #13 with US$12 was musician George Harrison. What happened that year? But

In 2018  Marley was #5 earned US$23m

In 2019 Marley was #5 earned US $20m

In 2020  Marley was#8 earned US$14m

In 2021 Marley was #11 earning US$16m

During those 5 years too, it is important to note that the private US-based music publishing company Primary Wave, which is backed by investors such as BlackRock, spent over US$50 million to buy 80% of Marley’s publishing catalog in 2018 owned by Chris Blackwell’s Island Records Founder. It gave them ownership share of two publishing catalogs, Marley's Songs and Blue Mountain Music.  Blue Mountain Publishing, which was launched by Island Records founder Chris Blackwell in 1962 and is home to the songs by Bob Marley, U2, Toots and the Maytals, Free, John Martyn, and others.

Primary Wave is reported to be “a multifaceted publishing, management, film & TV and marketing company founded by Larry Mestel, whose first job in the music industry was with Blackwell’s Island Records, in 2006.

It is one of the largest independent entertainment companies in the U.S. According to its website, the company holds the copyrights to more than 15,000 songs from the catalogs of artists such as Smokey Robinson, Kurt Cobain, Steven Tyler, John Lennon, Def Leppard, Hall & Oates, Chicago, Maurice White, Graham Parker, Daniel Johnston, Steven Curtis Chapman, Lamont Dozier, Steve Cropper, CeeLo Green, Larry Smith, and many others.” According to Variety.

Let’s go back to the money Marley is earning each year as reported by the Forbes List. In the 2018-2023 year span that I reviewed, the Estate reportedly made over US$90 million. But the music has always been the appetiser that created awareness and affinity - the perfect leverage to do other things.

Resonating Rhythms: Amplifying Music Sales

The resurgence of interest in Marley's music, catalysed by the One Love Biopic, is poised to give music sales and streams a big bump for sure. His timeless anthems like One Love, Redemption Song, and No Woman, No Cry along with other songs showcased in the movie like War, Exodus Three Little Birds, and Natural Mystic will surely see an uptick, as fresh audiences and long-time fans connect intimately with Marley's powerful message music. 

Additionally, popular songs on the movie’s soundtrack covered by contemporary Reggae Dancehall Artists like Shenseea will bring renewed appreciation and new fans to the timeless relevance of his message of love, unity, resistance, and social consciousness.

This will add to the gold mine that was already there in the posthumous musical releases, such as the Marley’s Legend compilation album. Released in 1984 and featuring mainstays like Could You Be Loved and Three Little Birds, it’s the most successful reggae album of all time. It has sold over 15 million copies in the US and has spent more than 800 non-consecutive weeks on the Billboard 200. Collectively, its tracks have accounted for well over 4 billion Spotify streams, and its phenomenal success.

Merchandising Melodies: Capturing Cultural Capital

Without question, Bob Marley's cultural influence has left an indelible mark on global popular culture. With the release of the One Love Biopic, demand for Marley-themed merchandise—from apparel to accessories—will soar to unprecedented heights. As we all know, in an era where music royalties are often minuscule, a substantial portion of Marley's earnings stems from merchandising.  The artist’s popular songs and lyrics have also been adopted as marketing tools to sell products.

Now you can buy Bob Marley-themed t-shirts, coffee, ice cream, and body wash. There is also sustainably sourced, Bob Marley-branded audio equipment, in addition to a line of Bob Marley skateboard decks. The cannabis brand Marley Natural also shows how the Marley name has become intertwined with business or with Babylon as Marley may have said it back then.

But Marley’s business affairs are now controlled by family members—The Marley Estate —who have made deals with various merchandising and marketing partners, with all parties sharing in the profits. The commercial power of Bob Marley’s name generates the royalties earned by the estate, though precise percentages are not publicly available according to a Fast Company article. 

Marley’s fans have been spending big money to express their affinity for the legendary musician and the values he embodied and presents a lucrative opportunity for brands to capitalise on Marley's enduring legacy while paying homage to Jamaica’s unique culture.

But not everyone is happy about this. 

Critiquing Capitalism: Preserving Marley's Legacy

We all know though that critiquing any aspect of Bob Marley’s legacy can elicit loud and defensive responses. But while the commercialisation of Bob Marley's name and image has been declared by his Estate as an important way to sustain and spread the artist’s ideals, some have questioned whether the Estate has been selling out and not ensuring that his artistic and cultural values remain uncompromised.

A fair question.

But the fact is, it takes cash to care and wealth has to be put to work to keep the lights on and the legacy alive. And maybe this unapologetic business side of being a Creative can act as a road map for other Jamaican artists.

Still, it’s not an easy line to skank on and a Fast Company article says this so well.

It said “The accusation of “selling out” could once seriously threaten an artist’s credibility; the insult wields far less power in an era when an artist’s survival often depends on sponsorship and licensing deals. Meanwhile, a deceased artist’s ongoing earnings are left in the hands of others. Nonetheless, when a musician as revered as Marley—and whose songs were suffused with messages of liberation, anti-imperialism, and anti-capitalism—becomes so commercialized, it’s worth wondering how this happened and whether it threatens his artistic legacy.”

That said, the "One Love" biopic, backed by Paramount Pictures and with four Marleys listed as producers, serves as both a cinematic experience and an international marketing vehicle for officially branded merchandise.

On the one hand, the fact that people so eagerly buy products plastered with Marley’s face and words reflects the profound connection he continues to have with his fans. But on the other hand, it’s difficult at times to accept Marley—a symbol of post-colonialism and anti-capitalism—now being aligned with branding collaborations and private equity firms.

But on a personal note, as warmongers threaten basic human rights around the world, Marley's messages of peace, anti-imperialism, and social justice are more relevant than ever. And while I know that the commercialisation of Bob Marley's legacy will continue to spark debate, I somehow believe that his music will continue to transcend the negatives and serve as a beacon of hope and resistance in an ever-changing world.

His music means so much to us all.

One Love.

PS: For the record, my favourite Bob Marley song is actually “War”

CARIBBEAN TECH NEWS SHORTS

Ai 

• Ai Policy Framework Takes a Step Forward.
  Jamaica’s AI Committee has finished its deliberations and has sent its recommendations to the Ministry of Tech for consideration and the next step in the process of developing a National AI Policy and legal framework.

• How Ai-Ready Were Caribbean Countries in 2023

• Nvidia, OpenAI, Microsoft, and nearly 200 other companies joined the US AI Safety Institute Consortium (AISIC) to support the safe development and deployment of generative AI.

E-commerce

• Tilopay, e-commerce platform provider, partners with First Atlantic Commerce (FAC) launched native payments and high-level fraud detection capabilities on Shopify, VTEX, Big Commerce, and WIX for Caribbean businesses.

• Mailpac buys MyCart

Robotics 

• FTC Jamaica Robotics High School competition had 29 Jamaican high schools competing with robots they designed, built, and programmed. 

GLOBAL TECH NEWS SHORTS

USA Tech

• Ai is creating more major market shifts, as Nvidia surpasses Amazon and Microsoft piles the pressure on AWS. Nvidia’s stock price has gone from a low of almost $50 in 2020 to an all-time high of almost $750 — a roughly 15x increase in less than 5 years that briefly made it the fourth most valuable company in the US yesterday, ahead of Amazon and other major companies.

• Payments giant Mastercard says it has built its own proprietary generative artificial intelligence model to help thousands of banks in its network detect and root out fraudulent transactions. Boost fraud detection by 300%

• OpenAI CEO Sam Altman is reportedly seeking investors to help him wildly expand the world’s chipmaking capabilities, a project that could require $5T-$7T. Yep, that “T” means trillion. Yep, that amount exceeds the GDP of every nation except for the US and China. Good luck with that, man.

Africa Tech

• In African Tech 2023 was a watershed year. US$2.748 billion was raised across 500 deals, and this includes Africa's largest-ever acquisition deal: Instadeep's acquisition by BioNTech for $682 million.

_FLASHBACK

A Moment in Caribbean Tech History

Top 5 Places to Buy Dancehall/Reggae Music Online | 13 years ago.

1.iTunes–  These days, iTunes is the first stop for local and international dancehall/reggae producers who are looking to sell their music online. From small/independent artists/producers who’re self-publishing, to monolithic record companies, iTunes offers a comprehensive database of new and old dancehall/reggae singles, EPs, compilations, and albums for sale in digital download format.

2. Amazon – as with iTunes above, Amazon offers a comprehensive one-stop shop for anything dancehall/reggae related, with a special section that’s dedicated to the genre. Most notable about Amazon is its extensive variety of formats – digital download, CD, vinyl, and even cassette for some older titles. Amazon has been online since back in 1995, thus it has an amazing archive of titles that other online retailers such as iTunes find hard to match.

3. VP Records’ Online Store– Planet Reggae is the online store for VP Records, the largest independent reggae record label. Through its various label imprints including VP Records, 17 North Parade, and Greensleeves, VP Records controls a significant chunk of the distribution rights for many new and vintage dancehall/reggae tracks/albums. Their online store offers a mix of digital download, CD, and DVD options.

4. Ernie B’s Reggae – For old and hard-to-find dancehall/reggae titles in CD and vinyl format, there’s one place online that’s almost guaranteed to have what you seek and more, and that’s Ernie B’s Reggae Store.

5. Rhapsody –  after the two ‘majors’ (iTunes and Amazon), Rhapsody is your next best option.

_{CARIBBEAN TECH EVENTS}

Meetups, workshops, webinars, conferences Events from the SiliconCaribe Insider Network.

Kingston BETA

• What: The Caribbean’s First and Longest Running Monthly Tech Community and Startup Stage Event.

• Date: Wednesday, February 28th, 2024

• Location: AC Hotel, Kingston

• Theme: The Trends and Business Opportunities of Caribbean eCommerce

• Format: Panel, Startup Stage Competition, The Best Tech Industry Networking in Jamaica

• Tickets: JA$1,500 pre-sold online $2,000 at the gate.

Beyond the Beach

• What: An invite-only Tech Investor Summit of Super Successful and highly activated US, Caribbean Diaspora, and Caribbean Angel Investors and Tech Entrepreneurs excited about investing in early-stage Caribbean Startups.

• Date: March 21-23, 2024

• Location: Half Moon Hotel, Jamaica

• Format: Unconference Style of Fireside Chats, Keynotes, Networking Lunches, Dinners, and Interactive Activities.
  An Entrepreneurs Across Borders and SiliconCaribe Event

• Get Your Invite Here

_{YOUR SCI COMMUNITY}

THAT’S IT

Catch you in your inbox, next week!

Cool beans, Ingrid