An independent review of the UK creative industries sector, led by Sir Peter Bazalgette, Chair of ITV and commissioned by the government, has made recommendations that could lead to the sector worth increase to £128.4 million by 2025 and provide up to one million new jobs by 2030.
The review outlines recommendations on how the creative industries can help build the UK economy with the government – removing barriers to growth from access to finance, issues with intellectual property, highlighting trade and areas with high numbers of companies that will drive regional growth.
The review’s recommendations will be considered by the government as part of its Industrial Strategy and work towards a sector deal. Action is already being taken with the opening of the £80 million Creative Industries Clusters Programme competition, led by the Arts and Humanities Research Council (AHRC). This opens in 2018.
The review’s findings also show that the sector played a key role in the UK’s economic recovery, contributing £87.4 billion in GVA in 2015, 5.3% of the UK economy (comparable to the Construction or Information sectors) and between 2010 and 2015 grew by 34%, faster than any other sector.
It also outperformed other sectors in employment growth, increasing by 19.5% (around 300,000 jobs) between 2011 and 2015, compared to 6.3% average across the wider UK. The sector is also a net exporter of services with a £11.1bn surplus in 2014.
Culture Secretary Karen Bradley said:
"The UK’s Creative Industries are an economic powerhouse and the government is committed to removing the barriers to its growth.
The key challenge now is turning these ideas into a strong partnership, which is credible and has buy-in from both government and industry.
I encourage the sector to do what it does best - think creatively and work with us on achieving a compelling and ambitious deal that allows the UK Creative Industries to continue to thrive."
You can read Karen Bradley's speech here.
Sir Peter Bazalgette said:
"In every scenario the Creative Industries are set to be of central importance to the UK’s future success. We have two great assets: the English language and our creativity, but the skills and business models of this sector are of increasing importance.
My report recommends simple ways of maximising the potential of this crucial sector which I’d like to see become part of the government’s developing Industrial Strategy.
I urge government to ensure the final strategy is based on a fundamental understanding of what these industries need to thrive."
Image: Philharmonia Orchestra's 'The Virtual Orchestra' by Marina Vidor