The UK government has published its strategy for the creative industries as part of the wider Industry Strategy. The creative sector is growing faster than the rest of the economy and is also subject to a lot of change, for example, from the use of AI and extended reality, among other developments. The government wants to capitalise on the sector's strengths as well as helping to stimulate innovation and new business models.
Among other things, the strategy aims to:
- Accelerate innovation-led growth: the government says that it will increase public and private levels of research and development investment in the creative industries, to encourage people to start and grow a createch business in the UK and to support the creation and value of creative IP.
- Secure growth finance for creative start-ups and scale-ups: it wants to support a wider range of types of growth capital, and address investors' risk aversion towards creative businesses.
- Build a resilient, skilled and diverse workforce fit for the future: it wants to encourage a high-quality workforce that is responsive to the needs of the creative industries and increase the productivity, resilience and diversity of the workforce, including creative freelancers.
- Increase trade and exports.
As well as these overarching aims, the government also has plans for various sub-sectors:
Film and TV: The UK is a global centre for screen production, drawing in £4.8 billion of inward investment and co-productions in 2024, and the UK's strength in visual effects and virtual production positions it well for next-generation content creation. The government wants to strengthen the UK's mixed film and TV ecology, backed by a BBC and public service media system protect the UK's attractiveness for domestic and inward investment.
Music, performing and visual arts: The UK has the third biggest music market, the second largest art market in the world, and a theatre sector that contributes nearly £1 billion in Gross Added Value a year. With this in mind, the government says it will back the next generation of British talent, aim to unlock new growth at home and abroad, and capitalise on the opportunities from digital platforms for musicians, performers and artists to reach new audiences.
Video games: The UK has the biggest video games industry in Europe, part of the fast-growing IT, software and computer services sub-sector. The government wants to expand the studio network as well as inward investment to deliver more hit titles, nurture the next generation of UK games companies and talent, and support the exploitation of games software across the economy.
Advertising and marketing: The UK advertising market is the most digitally mature in Western Europe, with internet advertising expected to reach £44 billion by 2028, from £32 billion in 2024. The strategy aims to unlock the growth potential of AI and innovative technologies, and boost exports to increase the number of renowned UK-created advertising campaigns across the world.
The government also wants to make the most of creative clusters, and it will also relaunch the Creative Industries Council. The DCMS will more than double targeted funding for the creative industries, along with major investment in culture, innovation and access to finance, including significant increases in support from the British Business Bank and UK Research and Innovation.
This is good news for our creative industry clients, although much will depend on the actual implementation of the plans.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
