UK music generates £ 3.5 billion per annum
Is the United Kingdom a creative nation? Data from January 2014 published by the Confederation of British Industry (CBI) stand for an affirmative answer.
The report "The Creative Nation: a Growth Strategy for the UK's Creative Industries", published by the CBI, has a clear objective: to make a strong quantitative argument to demonstrate the importance of culture for the UK economy. In the Beatles’ homeland, the music industry generates around £3.5 billion per annum and provides more than 100,000 jobs. Cinema is no exception: the film industry contributes £4.5 billion to national GDP. Not to mention the 182,000 publishing jobs and the £1 billion contribution to GDP made by the UK’s games development sector – which is projected to grow at an annual growth rate of 6.5% by 2016.
Together, creative industries in the UK account for 1.5 million jobs and some £36 billion in Gross Value Added. Also, they contribute greatly to the UK’s global appeal and attractiveness to foreign investors. Indeed, cultural products represent around 10.6 % of the UK’s exports.
Based on these facts and figures, the reports recommends some steps to take to ensure the long-term success of the British creative industries, such as: facilitating access to finance, putting in place the enablers for expansion abroad and better exploiting digital tools for the promotion of cultural goods.
Find out more:
Read the report "The Creative Nation: a Growth Strategy for the UK's Creative Industries"