UK Creative Industries generate £8 million every hour

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The UK government’s Department for Culture, Media and Sport (DCMS) revealed on Tuesday that creative industries in the UK, such as film, television and music, are generating GBP71.4bn annually and contributing GBP8m per hour to the economy.

Data collected for the Creative Industries Economic Estimates is used to measure the direct economic contribution of the Creative Industries to the UK economy. The official statistics provide an analysis of the contribution made by the Creative Industries to UK Employment, Gross Value Added (GVA) and Exports of Services. The latest figures indicate that creative industries in Britain are driving growth, investment and tourism.

Creative Industries Economic Estimates show that growth in the sector rose by 10% in 2012 and outperformed all other UK industry sectors. Accounting for 1.68 million jobs in 2012 and 5.6% of UK jobs as a whole, Creative Industries also include advertising and marketing; architecture; crafts; product, graphic and fashion design, video, radio and photography; IT, software and computer services; publishing; museums, galleries and libraries; and performing and visual arts. Employment in the Creative Industries was also up by 8.6% between 2011 and 2012, much higher than the rate of 0.7% for the whole of the UK economy.

According to the DCMS, the Creative Industries Economic Estimates also showed that GVA (gross value added) accounted for 5.2% of the UK economy. GVA of the Creative Industries has risen by 15.6% since 2008, in comparison to an increase of 5.4% for the UK economy as a whole.

Services exported by the Creative Industries were valued at GBP15.5bn in 2011, accounting for 8.0% of total UK service exports. The value of service exports from the Creative Industries increased by 16.1% between 2009 and 2011, which compares with an increase of 11.5% for total UK service exports.

Maria Miller, Secretary of State for Culture, Media and Sport, stated: “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.

“We are committed to ensuring that the energy, innovation, skills and talent existing in this dynamic sector continues to translate into economic success, and provide a remarkable platform from which, we can showcase Britain to the world.”

Nicola Mendelsohn, Creative Industries Council Chair, added: “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.”

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