The UK’s creative industries, which include the film, television and music industries are growing at three times the national average, generating just over a staggering £8 million pounds an hour. The sector grew by almost 10% in 2012, outperforming all other sectors of UK industry, according to the Department for Culture, Media and Sport.
The Growth in Numbers
A new report from the think tank Institute for Public Policy Research (IPPR) revealed that growth for the creative industries for 2011 and 2012 was 7.9% and 7.7% respectively compared to just 1.1% and 0.3% across the whole economy. The biggest increases have come from the film, TV, advertising and design industries.
Film, TV, video, radio and photography is the third-largest creative sector behind advertising/marketing, which has an estimated value of $16.8 billion, and IT, software and computer services ($50.8 billion).
Much of this recorded growth has been in London and the south-east. In addition, the number of enterprises in the creative industry has grown from 185,000 in 2008 to 217,000 in 2012. This represents an increase of 18%.
Creative Industries Fuelling the British Economy
The UK’s creative industries are well known 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 Service
Among the most striking findings of the study are:
- GVA (gross value added) of the Creative Industries was £71.4 billion in 2012 and accounted for 5.2% of the UK Economy.
- The Creative Industries accounted for 1.68 million jobs in 2012, 5.6% of the total number of jobs in the UK.
- Employment in the Creative Industries increased by 8.6% between 2011 and 2012 a much higher rate than for the UK Economy as a whole (0.7%).
Culture Secretary Maria Miller noted that “These incredible statistics 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”.
All in all, the UK creative industries can be conceived as a pioneer sector of the economy, fostering an attitude towards creativity and innovation from which the rest of the economy and society can beneﬁt. The UK has developed a promising public infrastructure of support for the creative and cultural industries that has been accumulated over more than a century and from which the country now reaps rich dividends. The country benefits from a rich institutional heritage encompassing art and design schools, museums, theatre and dance companies.