UK risks losing its edge in the creative industries

THE UK's creative industries have long been one of our most successful economic exports. From music and film to publishing, design, and digital content, we've consistently punched above our weight globally.

- DYLAN JONES EVANS

But a new report from Boston Consulting Group (BCG), titled “The Next Act: A Vision for the UK’s Creative Future”, makes clear that, while creativity remains one of the UK’s great strengths, the landscape is shifting fast, and we could fall behind unless the UK adapts with smarter policy, deeper investment, and better alignment between government, business, and education.

BCG redefines the creative and entertainment sector, stripping out unrelated tech functions and focusing squarely on content and cultural output, from film and TV to music, theatre, gaming, fashion, sport and design. Viewed through this lens, the creative sector contributed £94bn in gross value added in 2023, which represents a real-terms increase of 31% since 2010, as compared with a 22% growth for the overall UK economy.

It’s also a significant employer, supporting around 2.4 million jobs across the UK (or one in every 14 jobs) and generates a substantial net trade surplus. In fact, the UK is third in the world for net exports of creative goods and services, behind only the US and South Korea.

This is also a sector that enhances our global soft power, with British creative content, from Adele to the Premier League, James Bond and The Crown defining how the world sees us. But this success isn’t guaranteed, and the report identifies several global mega-trends that are reshaping the creative economy