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27 January 2016

NMA Welcomes Report Showing Economic Value of UK Creative Industries  

The News Media Association has welcomed a Government report showing that the value of the creative industries, of which news media publishers are an integral part, grew at almost double the rate of the economy as a whole. 

The Department for Culture, Media and Sport’s report on the UK creative industries found that the sector is now worth a record £84.1 billion to the economy - generating £9.6million per hour.

Publishing - which includes newspaper publishing as well as books, journals, directories, mailing lists, periodicals, translation and interpretation activities - contributes 10.2 billion to the economy, the report added.  

Minister for Culture Ed Vaizey said: “The creative industries are one of the UK’s greatest success stories, with British musicians, artists, fashion brands and films immediately recognisable in nations across the globe.

“Growing at almost twice the rate of the wider economy and worth a staggering £84 billion a year, our Creative Industries are well and truly thriving and we are determined to ensure its continued growth and success.”

NMA deputy chief executive Lynne Anderson said: “This report spells out the fundamental importance of the creative industries, of which news media publishing is an integral part, to the wider UK economy.

“Commercial news media publishers have a crucial role to play in fostering economic growth and we welcome the Government’s commitment to creating the right conditions for the continued success of the creative industries.”