UK government to invest £150m in creative industries, promises more copyright protection

The UK government has agreed to invest £150 million (A$275.7 million) in the country’s creative industries to make them globally competitive and to maintain the country’s reputation as a place of innovation.

According to the government, Britain’s creative industries — including music, fashion, design, arts, architecture, publishing, film & TV, advertising, video games and crafts — are worth £92 billion ($169.1 billion), employ two million people and are growing twice as fast as the rest of the economy.

The music industry will benefit, as will other creative sectors, from the government’s plan to work on closing the value gap at the European and domestic levels, and developing codes of practice aimed at improving cooperative measures to reduce online infringement

A £2 million ($3.6 million) Get It Right copyright campaign will tackle online piracy and educate consumers on the value of copyright.

A £20 million ($36.7 million) Cultural Development Fund will be set up through which cities and towns can bid for grants to invest in creative and cultural initiatives.

An industry and government Trade and Investment Board will be created targeting a 50% increase in creative industries exports by 2023.

It will develop the next generation of creatives alongside more clusters of world-class creative industries to narrow the gap between London/South East and other regions.

£39 million ($71.7 million) is to be invested by the Arts and Humanities Research Council in eight “creative research and development partnerships across Britain."

£33 million ($60.6 million) is for investment in immersive technology products, services and experiences, including virtual reality in video games, interactive art shows and tourism.

The video games industry gets an additional £1.5 million ($2.7 million) to the UK Games Fund over the next two years to help young entrepreneurs.

PwC predicted the UK’s virtual reality industry will grow at a faster rate than any other entertainment and media industry between 2016-2021, reaching £801 million ($1.4 billion) in value.

£2 million ($3.6 million) is ear-marked for industry-led skills packages, including a creative careers programme the government says will be able to reach at least 2,000 schools and 600,000 pupils.

For the film and TV sector, there will be multi-million pound expansions at major studios as Pinewood and Warner Bros. Studios, and a number of new studio facilities around the country.

The government points out that over the last five years inward investment in the film and high-end TV industries grew by more than 100% to more than $2.8 billion ($5.1 billion) in 2017.

It hopes that “with the right conditions” that could reach £4 billion ($7.3 billion) by 2025.

Inward investment is currently driven almost entirely by US studios, networks and mini-majors.

The music industry responded to the investment boost to boost growth and productivity with delight, especially after its lobbying for more copyright protection.

UK Music CEO Michael Dugher said: “For more than a year, UK Music has worked intensively with the government and the Creative Industries Council to get the best possible deal for the music industry.

“I’m delighted that the government has listened and delivered a deal which should pave the way for the UK music industry to continue its world-beating success story.

“We welcome the commitment to strengthen the talent pipeline to address current and future skills needs, as well ensuring the industry is more representative of UK society.

“The creative industries sector deal provides a fantastic opportunity to boost the competitiveness of our industry, which contributes £4.4 billion ($8 billion) to the UK economy, generates exports of £2.5 billion ($4.5 billion) and employs over 140,000 people.”

Geoff Taylor, chief executive BPI & BRIT Awards, said: “The government is now taking a strategic approach towards the creative industries as a key driver of economic growth.

“There will be opportunities for the music sector in new funding for VR/AR content, the creative careers programme, the Cultural Development Fund and improved access to finance.

“The government has understood that all creative businesses can grow faster if they can generate a better return from the investments they make in creating new IP."

Dugher further added: “We hope the measures can be used to support other key aspects of the music industry’s infrastructure, such as venues, studios or rehearsal spaces.

“It is vital that we now build on the opportunity of a sector deal and that government continues to work with the music industry to develop further measures to support talent development and a diverse workforce so our globally successful sector can continue to grow.”