Creative industries generate record £84bn for UK
Broadcast Magazine is reporting that the creative industries are worth a record £84.1bn to the UK economy, according to official figures released at a time when the government is mulling radical changes to broadcasting.
The Department for Culture Media and Sport’s (DCMS) Creative Industries Economic Estimates report said sectors including television, film and gaming, have grown nearly 9% from £77.2bn in 2013 to the £84.1bn figure in 2014.
The creative industries accounted for 5.2% of the British economy in 2014 and grew at almost twice the rate as the rest of the UK. The industries generate £9.6m per hour for the UK economy, the DCMS added.
TV, film, video, radio and photography accounted for £10.8bn, or 12.9%, of the £84.1bn – meaning it has grown 13.8% on 2013’s figure £9.5bn. This makes it the third largest part of the creative industries after technology (£36.6bn) and advertising (£13.3bn).
The DCMS suggested that TV drama has played a big part in the growth, pointing to series including Game Of Thrones, Poldark [pictured], Peaky Blinders and Outlander.
“The creative industries are one of the UK’s greatest success stories,” said culture minister Ed Vaizey. “Growing at almost twice the rate of the wider economy and worth a staggering £84bn a year, our creative industries are well and truly thriving and we are determined to ensure its continued growth and success.”
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