Official statistics published today reveal that the UK’s creative Industries, which includes the film, television and music industries, are now worth £71.4 billion (€85.6bn) per year to the UK economy – generating just over £8 million pounds an hour.
The UK creative industries are renowned across the globe driving growth, investment and tourism. The Creative Industries Economic Estimates are official statistics used to measure the direct economic contribution of the Creative Industries to the UK economy; providing an analysis of the contribution made by the Creative Industries to UK Employment, Gross Value Added (GVA) and Exports of Services.
Key findings include:
According to Secretary of State for Culture, Media and Sport, Maria Miller, the findings are confirmation that the Creative Industries consistently punch well above their weight, outperforming all the other main industry sectors, and are a powerhouse within the UK economy. “We are committed to ensuring that the energy, innovation, skills and talent existing in this dynamic sector continues to translate into economic success, and provide a remarkable platform from which, we can showcase Britain to the world.”
Creative Industries Council Chair Nicola Mendelsohn said the figures amply demonstrated the huge contribution the sector makes to the economy and that it was vital that the right framework was in place to nurture and support the industry. “We are working with Government on developing a growth strategy for the sector which will identify how all involved can ensure the creative industries continue to go from strength to strength.”