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New report champions economic importance of creative industries

By | Published on Wednesday 3 December 2014

IMPALA

A new report by EY, commissioned by the European Grouping Of Societies Of Authors And Composers (which really is a thing, people call it GESAC) and backed by pan-European indie label trade body IMPALA, amongst others, reckons that the cultural and creative industries (CCIs, if you like) are amongst the biggest employers in the European Union, and that they have experienced sustained growth even through the big bad recession of recent years.

According to EY’s stats, the combined CCIs in Europe – which includes to the good old business of music of course – have annual revenues of 353.9 billion euros and employ more than seven million people, a fifth of whom are under the age of 30. That makes CCIs the third biggest employers in Europe, just behind construction and food/drink.

And the creative industries employ 2.5 times more people than car makers, with visual arts alone employing more people that the telecoms industry. Which is presumably why it takes so long to get through to their customer services, those phone firms should try to headhunt a few painters. Overall employment by the CCIs has risen in recent years, while employments levels at large in the EU have slipped a little.

Not only that, but the output of CCIs are “one of the main sources nourishing the digital economy” that everyone in European political circles is so obsessed by. So, basically, political overlords across the EU should all start paying a whole load more attention to the cultural and content industries. That’s the main conclusion of the report. And its main objective presumably, so job done.

Michel Lambot, Co-President of independent music company [PIAS] and a board member of IMPALA said of the new EY paper: “The results underline the vital role of culture not just in terms of civilisation but also for Europe’s economy and jobs. We are proud to be one of the biggest employers, with jobs that cannot be de-localised. The answer to building a new Europe is its creators”.

Meanwhile IMPALA Executive Chair Helen Smith added: “If there is one message from this study, it is that Europe is, quite literally, creating its way out of the crisis. Leading the world’s digital economy, Europe must make sure it is the best place in the world to be a creator”.


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