Creative industries generate £8 million an hour. So states Creative Industries Statistical Report
From Jonnie Turpie, Founder & Director of Maverick TV
Creative Industries Economic Estimates Report
The report came off the press on the 13th January 2014. The Office for National Statistics report is a detailed analysis of the Creative Industries' growing contribution to UKPLC. This is not a new phenomenon! It has been well known for the last 40 or so years, since the emergence of popular culture, that the UK punches above its weight in this sector. The report is accompanied by a supportive statement by the Secretary of State for Culture, Media and Sport, Maria Miller: “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.”
The report is based on analysis of the extensive data, and additional consultation, supported by a cross-industry collaboration overseen by the Creative Industries Council, Creative Skillset, Creative and Cultural Skills, Nesta, DCMS and a range of industry bodies.
The headline findings are that:
The UK’s creative industries are worth £71.4 billion per year to the UK economy. The creative industries, which include film, television and music, generate a staggering £8 million an hour.
Growth of almost 10 per cent also meant that the creative sector outperformed all other sectors of UK industry, accounting for 1.68 million jobs (5.6 per cent of the UK total) in 2012.
The UK creative industries are renowned across the globe; driving growth, investment and tourism.
Creative Industries Council Chair Nicola Mendelsohn said: “These figures amply demonstrate the huge contribution our sector makes to the economy and it’s vital that the right framework is in place to nurture and support the industry. We are working with Government on developing a growth strategy for the sector which will identify how all involved can ensure the creative industries continue to go from strength to strength.”