The media and entertainment sector (Film, TV and Radio) sits at the heart of Britain’s creative industries. The sector contributes £29bn in GVA to the economy, which is the equivalent of over 550,000 jobs, that is more than in the UK’s entire legal sector.

The long-term investment in people, production and infrastructure that comes from the media and entertainment sector drives growth in creative clusters across the UK. These clusters generate agglomeration effects that are far greater than the sum of their parts, delivering £470 million in productivity gains every year.

But the sector is at a crossroads. Recent headwinds facing production, rapid technological change and financial pressures, mean the media and entertainment sector’s future depends on decisive action.

Our new report for the BBC shows that, with the right policies, we can:

• Enable the Media and Entertainment to deliver 28% of the UK’s Creative Industries investment target by 2035
• Support PSBs to deliver an additional £9.6 billion in GVA
• Equip the next generation of talent with cutting-edge creative skills, opening new career pathways into the creative industries
• Embrace AI and new technologies to keep Britain globally competitive

To get there, the industry, Government and Ofcom need to act and work together. Our recommendations include:

• Investing in creative clusters, through stable long-term funding for PSBs to anchor investment in the UK’s creative clusters, ensuring they can sustain growth across the nations and regions. Competitive tax reliefs and a network of Creative Growth Zones can further incentivise regional investment and help creative SMEs scale.
• A National Media & Entertainment Skills Platform should be created bringing together industry and government to create a single point for finding training and lifelong learning opportunities in the creative economy, with a focus on future-facing tech skills.
• A tech-first strategy, Ofcom must set out how under its new Growth Duty it will encourage the sector to invest in tech and innovation.  TV rights regulation must be modernised and increased access to high-performance computing should be supported.

With these pillars in place, the UK can remain a global leader in creativity, ensuring the sector thrives for decades to come.

Read the full report here.