NEWS: Value of UK creative industries surges to £71bn

Growth increases value of UK creative industries to £71bn

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The UK’s creative industries are generating approximately £71.4 billion of value to the UK economy following a surge in growth, according to new official figures released by the Department of Culture, Media and Sport.  

The official Gross Value Added (GVA) data underpins a push by government and business leaders in 2014 to accelerate growth and employment across the creative industries. This year has been dubbed the Year of Creativity as the importance of creative goods and services to the economy is increasingly acknowledged by government, industry and the public.

The industries, which include TV, film, music, design, crafts, fashion, games, tech and advertising, have seen GVA increase by 15.6% since 2008, compared with an increase of 5.4% for the UK economy as a whole. The value of services exported by the UK creative industries was £15.5bn in 2011, an increase of 16.1 per cent since 2009. Over that period, service exports increased by 11.5 per cent for the UK as a whole.

In that context, GVA for the UK's creative industries increased at a higher rate than any sector in the economy including manufacturing; financial services and construction.

An estimated 2.55 million people in the UK work in either a creative industry or in a creative role in another industry – that equates to one in every twelve jobs - a larger number than in either UK financial services or the National Health Service.

Ministers are expected to back a new growth strategy for the creative industries. Policy-makers and industry chiefs believe there is an opportunity to capitalise further on the benefits of UK creativity, both at home and abroad.

The Confederation of British Industry is calling for the UK to become a “global creative services hub” by 2025 and recently renewed its focus on the sector’s commercial potential.

The approach, developed by leading industry figures, will address prospects for growth by addressing access to finance, education and skills, exports and inward investment, intellectual property and digital infrastructure.  

It will be supported by dedicated creativity events round the world and a new website – www.thecreativeindustries.co.uk – to help trade officials for UK Trade & Investment and the Foreign and Commonwealth Office (FCO) in 200 countries spread the message worldwide.

The chosen career path of thousands of UK youngsters every year, the creative sectors are valued by ministers as providing the kind of high skill, high value-added jobs that the UK needs to secure in an increasingly globalised and digital economy.

Maria Miller, Secretary of State for Culture, Media and Sport, said: “Our latest figures represent a coming of age for the creative industries. They are one of the most influential and diverse sectors of the UK economy and a world leader.”

“The launch of this new online portal as part of the wider creation of a Creative Industries Council and new industrial strategy for global collaboration marks a real commitment from Government and the creative industry to accelerate growth for this country. ”

Watch Maria Miller speaking at the launch of www.thecreativeindustries.co.uk below:

You can watch other videos from the night here.

Notes to Editors:

Facts on the UK Creative Industries:

• The UK is the second largest exporter worldwide of music and independent television programmes, and home to the biggest games developer market in Europe.
• One out of eight albums sold worldwide in 2012 was by a British artist. In four out of five years between 2008 and 2012, a UK artist produced the world’s biggest selling album.
• Creative industries combine across sectors to make British success stories such as Burberry. British design came together with British advertising and turned the company's fortunes around.
• 1 in 12 jobs in the UK is in the creative economy.
• Education, culture and the English language are the top three factors affecting the UK’s reputation overseas.