Rhinegold

Rebecca Pizzey

Editorial assistant

Creative industries growing at twice the rate of the economy

2:25, 1st December 2017

The Department for Digital, Culture, Media and Sport (DCMS) has announced that the creative industries made a record contribution to the economy in 2016.

New statistics published on the government website show that DCMS sectors – which comprise the civil society, creative industries, the cultural sector, the digital sector, gambling, sport, telecoms and tourism – contributed an estimated £249 billion to the UK economy, which accounts for 14.2% of the UK’s Gross Value Added (GVA).

The figures also show that, year-on-year, the DCMS sectors’ GVA is up by 3.6%, and a staggering 29% since 2010. Meanwhile, the UK economy as a whole grew by 3.5% between 2015 and 2016.

Within DCMS, the creative industries specifically had the largest percentage increase between 2015 and 2016: 7.6%. This means that the creative industries are now worth almost £92 billion in terms of GVA, up from £85 billion in 2015.

Karen Bradley, secretary of state for DCMS, said: ‘Britain’s creative industries play an essential role shaping how we are seen around the world but as these new statistics show they are also a vital part of the economy.

‘The sector is now one of our fastest growing industries and continues to outperform the wider UK economy. This is a testament to the talent and drive of its workforce and we are working closely with them to make sure this fantastic success continues.

‘I am delighted to see the sectors my department supports contributing so positively to people’s lives and helping strengthen the economy, as we work to build a Britain fit for the future.’

Deborah Annetts, chief executive of the Incorporated Society of Musicians and the found and leader of the Bacc for the Future campaign, said: ‘The creative industries are, once again, bucking the trend and generating the growth in value and job creation that the UK economy needs.

‘As we look to the future, the imminent sector deal for the creative industries must ensure that music venues and creative spaces are protected, must invest in the pipeline of talent which will fuel further growth by recommending the withdrawal of the unevidenced English Baccalaureate or EBacc, which excludes creative subjects, and protect flexible travel for creative professionals – many of whom are self-employed but rely on work in the EU – post-Brexit.’

In the report, the government said that it ‘continues to back the creative industries sector’, citing one instance of this support as ‘dedicated tax relief to support high-end television productions, such as Game of Thrones and The Crown‘, both of which have seen ‘a production boom worth £1.5 billion since the scheme was introduced in 2013’.

The government has also recently introduced the opening of an £80 million Creative Industries Clusters Programme competition, which will ‘boost innovation in the sector by part-funding research partnerships between universities and industry’.

The tourism, sports and digital sectors are also reportedly thriving: tourism, which has continued to grow, now makes up almost 4% of the UK economy, and was worth £66 billion in 2016; the value of sports to the economy has increased by 28.6% since 2010; and between 2015 and 2016, the digital sector had a contribution growth of 5.8%.

Read the full report here.

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