Creative England CEO calls for creative sector development following release of Pinewood Studios media report
A report on the UK’s creative industries, commissioned by Pinewood Studios, has led Creative England’s chief executive to call on the development of the creative industries as a whole within the country.
Following the release of Powering Ahead, which was produced by Price Waterhouse Cooper on behalf of Pinewood Studios, Caroline Norbury, chief executive of Creative England, commented: “This timely report addresses a number of the key issues we simply must address if we are to maintain and grow the UK’s creative industries. The key is to ‘grow our own’. To do this, we need to address issues of infrastructure building on existing centres of excellence, like Pinewood, Elstree and Leavesden, whilst looking to strengthen existing creative businesses and clusters north of Watford. We need to up-our-game in terms of digital infrastructure too - UK businesses cannot compete without major improvements to broadband.”
Norbury also stated that a change in the investment culture towards the creative sector was needed, while also providing ‘affordable access’ to finances.
“We must retain our IP and learn to build big creative businesses founded on our big creative ideas. We need to remember that SMEs are the key drivers for future economic growth. Finally we need to remember that innovation is the key to remaining competitive, both structurally within businesses – and with the products and services we produce,” she added.
The report highlights an increase in global demand for media and content, alongside the number of nations expanding their own creative economies with the advent of digital technology.
Key facts from the report,strong
The average consumption of television by 2010 per day of media was seven hours
Television was the most popular medium in 2010, with an average of 200 minutes each day consumed.
By 2016, global entertainment is forecast to generate just below $2,000 billion
The UK box office grew by 21 per cent between 2006 and 2011 with mostly US productions generating the most revenue within the UK.
An average of 25 blockbuster movies with budgets over $100 million are released each year in the UK
Global TV advertising is forecast to grow by 6 per cent each year towards 2016, reaching just under $250 billion.
Consumer spend on video games is predicted to grow by 6.3 per cent each year between 2011 and 2016 with the continued growth of casual gaming online and through mobile.
60 per cent of supplier to major UK films are located within 35 km of Pinewood Studios.