The UK government has invested £60 million of funding into the creative industries as part of its Creative Industry Sector Plan.
The Creative Industry Sector Plan aims to identify barriers which are holding the sector back, and help to position it at the centre of the UK economy.
The funding is aimed at investments to help grow music and film exports, and to support local businesses such as grassroots music venues, start-up video game studios and other creative businesses.
Culture secretary Lisa Nandy said: “From film and fashion to music and advertising, our creative industries are truly world-class and play a critical role in helping us deliver on this Government’s mission to drive economic growth in all parts of the UK.”
“Our £60 million funding boost will support creative and cultural organisations across the UK to turbocharge growth by transforming local venues, creating jobs, supporting businesses and spreading opportunity across the country. But this is by no means the limit of our ambitions, which is why the creative industries are at the heart of the forthcoming Industrial Strategy and will continue to play a key part in this Government’s Plan for Change.”
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According to the government, the priority regions for investment are the Northeast, Greater Manchester, Liverpool City region, West Yorkshire, West Midlands, Greater London, West of England, South Wales, Glasgow, Edinburgh-Dundee corridor and Belfast.
It is hoped these areas will create an attractive business environment that encourages investment.
The £60 million investment was announced at a summit at the Glasshouse International Centre for Music in Gateshead.
Alfie Scarborough, CEO of security verification platform adCAPTCHA said: “Creative industries should form the backbone of UK economic growth, providing entertainment for the nation through streaming services, theatre, cinema and the internet. Society increasingly lives by an on-demand culture, so supporting innovation within the creative industries can support businesses to deliver more content than ever before, while supporting grassroots creatives that underpin the success of the sector.”
The British Business Bank, which delivers £17.4 billion in finance to UK businesses, will provide the funding.
