Recent
Economic Study Finds that Tempo Positively Impacts USVI Economy - Tempo Turns
One contributed .02% to St. Croix’s Gross Domestic Product - USVI Government
Partnership with Tempo Constructive to USVI Economy Tempo,
MTV Networks Posted
07-05-07
For
the last year and a half Tempo, the Caribbean’s premier entertainment network
has served to unite the region in all of its musical and cultural offerings. Tempo
serves a viewer base of over 2 million in 23 markets and frequently produces and
promotes musical events across the region. In November 2006 Tempo hosted one such
event, their one year anniversary celebration (Tempo Turns One) on St. Croix.
Dr. S. B. Jones-Hendrickson a highly respected professor of economics at The University
of the Virgin Islands conducted a study to examine the economic impact that Tempo
Turns One had on St. Croix and its businesses.
Tempo
Turns One was responsible for .02% of the total material goods purchased on St.
Croix in 2006. This finding illustrates Tempo’s high revenue enhancing capabilities
as a musical and cultural product.
A
total of 70 businesses and patrons were surveyed and indicated overwhelming support
for Tempo as a product and as an event in terms of what it has done for St. Croix.
100%
of those surveyed said that the Government should partner with and contribute
to Tempo events in a significant way.
100%
of those surveyed found Tempo to have outstanding professionalism, efficiency,
and precision in the delivery of its product.
94%
of the businesses surveyed said that they would support Tempo and Tempo events
locally.
Many
of the businesses that contributed to this study have been in operation in the
USVI for over 30 years. These businesses indicated that Tempo’s continued
presence in the USVI will significantly contribute to their growth.
The
study found that the Tempo business model has the expertise, and brand awareness
to catapult Caribbean talent to the international stage.
Tempo,
under its marketing imprimatur, has centralized all musical forms uniting the
Caribbean under one regional umbrella.
Through
its programming Tempo has achieved a certain specificity relative to the development
and exposure of Caribbean culture, the promotion of musical forms, and the enhancement
of opportunities to new and established artists across the region and beyond.
Tempo’s
focus on culture, sports, educational forms and historical landmarks are designed
to showcase the Caribbean, and the talent of its people.
In
this era of globalization, as we go forward, the Tempo product is integral in
understanding the contemporary Caribbean which transverses multicultural, multi-lingual,
and multi-national borders.
Tempo
is positioned to be a leading agent for cultural, economic and social transformation
in the Caribbean
From
the Jones-Hendrickson study it is clear that Tempo is a growing success story.
The patrons and businesses of St. Croix have openly expressed this point. The
Caribbean economies that partner with Tempo can expect a positive impact among
all its sectors.
For
the last year and a half Tempo, the Caribbean’s premier entertainment network
has served to unite the region in all of its musical and cultural offerings. Tempo
serves a viewer base of over 2 million in 23 markets and frequently produces and
promotes musical events across the region. In November 2006 Tempo hosted one such
event, their one year anniversary celebration (Tempo Turns One) on St. Croix.
Dr. S. B. Jones-Hendrickson a highly respected professor of economics at The University
of the Virgin Islands conducted a study to examine the economic impact that Tempo
Turns One had on St. Croix and its businesses.