Wider publishing industry 'worth £10bn to UK in 2012'

15.01.14 | Sarah Shaffi - The Bookseller

 

A new report by the Department for Culture, Media and Sport (DCMS) has shown that the publishing industry - in its widest definition - is worth almost £10bn to the UK economy in 2012.
The Creative Industries Economic Estimates are the official statistics used to measure the economic contribution of the creative industries in the UK.

The publishing industry is defined as the book, magazine and newspaper sectors, among others.
In 2012 the publishing economy – defined as people within the industry and those with creative jobs outside the industry – employed 255,000 people, up 8.1% on 2011, and its Gross Value Added (GVA) was £9.7bn.
The value of services exported by the publishing industry in 2012 was £1.2bn.

Richard Mollet, c.e.o. of the Publishers Association, said: “The figures published today in DCMS’ Economic Estimates are yet another example of the economic importance of the publishing sector, and of the creative industries collectively.

“With increases in employment and export performance, it is hoped that government will support this growth by ensuring a strong and flexible copyright framework is in place, which can continue to attract investors and stimulate business.

“Intellectual property law is fundamental to the success of the creative industries, and publishers remain closely engaged with government in taking forward sustainable policy developments.”
The report also includes museums, galleries and libraries, an area which employed 108,000 people in 2012, down 4.2% from the year before.

As a whole the UK’s creative industries, which also include film and television, are worth £71.4bn per year to the UK economy, generating just over £8 million an hour.

Maria Miller, secretary of state for Culture, Media and Sport, said: “These incredible statistics are confirmation that the Creative Industries consistently punch well above their weight, outperforming all the other main industry sectors, and are a powerhouse within the UK economy.

“We are committed to ensuring that the energy, innovation, skills and talent existing in this dynamic sector continues to translate into economic success, and provide a remarkable platform from which, we can showcase Britain to the world.”