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£150 Million to be Invested in Britain’s Creative Industries


£150 Million to be Invested in Britain’s Creative Industries

A brand new announcement has brought some exciting news to the creative sector this week.

Thanks to a landmark Creative Industries Sector Deal, more than £150 million is to be jointly invested by the government and industry to enhance cultural and creative businesses across the country.

Britain’s creative industry is booming, growing twice the rate as the rest of the economy and employing over 2 million people. It is estimated that collectively, they are worth £92 billion.

“Britain’s creative industries are an economic and cultural powerhouse and this ambitious deal will make sure they continue to thrive as we build a Britain fit for the future,” explains Matt Hancock, Secretary of State for Digital, Culture, Media and Sport.

The new Cultural Development Fund is set to grant UK cities and town access to £20 million to aid the growth of local culture and creativity. There are also additional plans to design an expert-led careers programme in order inspire the next generation of artists.

It is hoped that these much-needed changes will give British creative firms the support they need to compete on the ever-evolving global stage.

“The Industrial Strategy is all about building on our existing strengths and seizing the opportunities of the future,” Business Secretary Greg Clark maintains. “Our creative industries have been, for centuries, world-renowned and at the forefront of innovation. That’s why I was determined to place the creative industries at the heart of our Industrial Strategy.”

Last year, we saw our home city of Hull experience a significant economic boost whilst it celebrated its year in the spotlight as Hull UK City of Culture 2017. Incredibly, since we were given the title, nearly 800 jobs have been created, along with £220 million pumped into in the city’s tourism and cultural sectors.

Our city is living proof that investment is key when it comes to nurturing culture.

What is more, we’ve seen a complete shift in people’s attitudes towards the creative arts. Prior to the City of Culture year, many individuals believed that art, theatre, culture and live performance wasn’t quite for them. However, you can now see a huge proportion of the local population actively participating in the extraordinary events that continue to take place across the region.

One part of this milestone deal is government support of immersive technologies, such as virtual and augmented reality. £33 million is set to be injected into the industry.

For a long time, we have recognised the power of collaboration between the digital and creative sectors. The Centre for Digital Innovation in Hull is an excellent example of this partnership working successfully. Designers, artists, illustrators and animators frequently work closely with developers, engineers, IT specialists and computer scientists to embrace and innovate emerging technologies.

Overall, we’re thrilled to hear the news of this much-anticipated investment into our sector. At Mattix Design, we are continuously proud of the achievements of British designers. We’re looking forward to seeing what the future holds for the country’s cultural and creative industries.

You can read the Secretary of State’s full speech here.