Today, (Tuesday 26th January) the Department for Culture, Media and Sport revealed that the UK’s Creative Industries, were worth £84.1 billion to the UK economy in 2014. The Creative Industries are generating nearly £9.6million an hour and the figures show the sector growing at almost twice the rate of the wider UK economy. The figures released are boosted by the UK's music industry.
The Creative Industries in 2014:
• Gross Value Added (GVA) for 2013-14 increased by 8.9% and accounted for 5.2% of the UK economy.
• GVA of the Creative Industries was £84.1 bn in 2014.
• The Creative Industries accounted for 1.8 million jobs in 2014 and a 5.5% increase on 2013.
• The value of services exported by the Creative Industries was £17.9 bn in 2014, 8.7% of total UK service exports.
Commenting on the figures, Jo Dipple, CEO of UK Music said: “British music rocks the world. Adele, Sam Smith, Ed Sheeran, Dizzee Rascal, FKAtwigs, Massive Attack, Little Mix, Skepta, Labyrinth. Emeli Sandé, The Beatles, Tom Jones, UB40, The Clash, The Rolling Stones and Led Zeppelin give testament to our diverse talent. British music has created more emotional and cultural value for the citizens of this country than can be measured. During his Spending Review and Autumn Statement 2015 speech in November the Chancellor recognised this and said one of the best investments we can make is in the arts. It’s difficult not to overstate how encouraging the Chancellor’s statement was to the UK Music community. Our success is based on a very special British formula. It is unique, brilliant, but it needs support, care, investment, funding, training, love as well as huge amounts of raw talent and a bit of luck. Having the value of the arts recognised by Government is a truly great way to end the year and start the next.”
Minister for Culture Ed Vaizey said: “The creative industries are one of the UK’s greatest success stories, with British musicians, artists, fashion brands and films immediately recognisable in nations across the globe. Growing at almost twice the rate of the wider economy and worth a staggering £84 billion a year, our Creative Industries are well and truly thriving and we are determined to ensure its continued growth and success.”
Notes to Editors:
To view the DCMS report, click below: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/494927/Creative_Industries_Economic_Estimates_-_January_2016.pdf
UK Music has published its own annual economic study Measuring Music, which shows the contribution and continued growth the UK music industry made to the British economy. This report has been acknowledged by the DCMS, and is referenced in the annex to the report:-
“Music: While a good part of the music industry is implicitly included in the codes making up the Creative Industries Economic Estimates, the industry and occupation codes do not allow the contribution of music to be satisfactorily identified as a separate category. Even at the highest resolution of detail available in the ONS data we use, live music is counted alongside theatre in a single “Performing arts” category. There are also challenges related to capture of micro-businesses and the inaccurate classification of music businesses in the ONS Business Register that underpins the Annual Business Survey on which GVA estimates in this release are produced. UK Music is currently working with the ONS and DCMS on these areas. It has used industry data from its members to separately estimate the size of the music industry in its latest report Measuring Music, which estimates that the UK music industry’s contribution to the British economy in 2014 was £4.1bn, up 5 per cent since 2013 (when it was £3.8bn).”
For more Information please contact:
UK Music, Director of Government and Public Affairs – Tom Kiehl firstname.lastname@example.org
0203 713 8444 or Eva Lamont email@example.comBack to news