The UK government has announced a new 拢77 million funding package to support the creative industries.聽
The package of support is designed to assist Prime Minister Rishi Sunak鈥檚 plan to grow the creative industries by 拢50 billion and support a million more jobs by 2030.
The new investment will see the opening of advanced screen and performance technology research labs to be based in Yorkshire, Dundee, Belfast and Buckinghamshire. Additionally, the UK Games Fund will receive a 拢5m uplift bringing its total funding to 拢13.4m over the next two years.
There will also be 拢50m to support more regional creative clusters, plus extra cash for music venues, video games studios, London Fashion Week, and the next generation of British music talent. This will be backed by plans to build a pipeline of skills and talent through a new creative careers promise.
In addition, the government launched a new whitepaper called the Creative Industries Sector Vision, which sets out shared ambitions to build on that success and maximise the growth of the creative industries by 拢50bn by 2030.
Addressing attendees at the London Tech Week, said that Britain鈥檚 creative industries were 鈥済oing like gangbusters鈥� and represent a 鈥渦nique strength鈥� for the country.
鈥淭he creative industries are a true British success story, from global music stars like Adele and Ed Sheeran to world-class cultural institutions like the National Theatre,鈥� he said. 鈥淭hese industries have a special place in our national life and make a unique contribution to how we feel about ourselves as a country.
鈥淲e want to build on this incredible success to drive growth in our economy – one of my key priorities 鈥� and to ensure that UK creative industries continue to lead the world long into the future.鈥�
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Responding to the news, John Kirk, group deputy CEO at ITG, said the funding is 鈥渨elcome news鈥�.
鈥淚t further supports R&D, skills training, and job creation in such a vital area of the economy,鈥� he said. 鈥淲ith so many companies now looking to tell their stories through creative content, dynamic videos and digital channels, the creative industries play a crucial role in providing these services, enabling businesses to rapidly enter new markets, reach new customers and drive sales.鈥�
Meanwhile Joanna Reynolds, Managing Director of Bordeaux & Burgundy said: 鈥淭his vital funding will help turbocharge the UK鈥檚 creative industries, supporting R&D, training, and development. Many of the country鈥檚 most ambitious companies rely on the creative industries for advertising, marketing services, content creation and harnessing the power of AI.
鈥淏oost the creative industries and in turn you will empower a new generation of businesses to achieve record growth, something that will have a direct impact on the future of the economy and should be warmly welcomed in uncertain times.鈥�
Sjuul van der Leeuw, CEO of Deployteq, added: 鈥淭he creative industries play a vital role in driving economic growth and should continue to be a top priority for investment.聽
鈥淲ith AI and digital communication now critical for fast-growing companies to win new customers, the creative industries can offer entrepreneurs everything they need from music and video production to automated marketing services, enabling them to go for growth.鈥�
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