Spicemas Corporation CEO Cecil Noel expects spending to rise in 2024.
“Spicemas 2023 cost us around E$4.1 million, and we estimate it will cost around EC$5 million this year,” Noel stated during the media presentation of Spicemas 2024 on April 29.
Noel stated the National Lotteries Authority (NLA), a statutory organisation under the Ministry of Sports and Government, funds funfair. In terms of financing, the NLA has been very important; we received EC$1.1 million from them and EC$1 million from the government. We got EC$2.1 to manage the funfair, but the budget was EC$4.1 million, he claimed.
The private sector sponsors’ financial contribution was not disclosed, but Noel added, “The additional support we got was from sponsors, they remain a key component of what we do.” Other revenue comes from gate receipts and semi-final pay-per-view packages.
We didn’t owe anyone because gate proceeds covered it. He stated the company paid all its bills for 2023, but he did not say if it made a profit or broke even.
Spicemas chairman Kurt Ross called Spicemas 2024 “An explosion of culture.” Spicemas will begin on 4 May and is more than a celebration, he claimed. “It is a cultural experience,” he remarked.