The UK Government has injected £60 million (€71m) in funding into hundreds of creative businesses and projects as part of its modern Industry Strategy to grow the UK economy.

The investment package is aimed at investments for grassroots music venues, start-up video game studios and creative businesses to grow music and film exports, driving innovation and investment in local communities while supporting local businesses and job creation.

The priority regions for Creative Industries are the Northeast, Greater Manchester, Liverpool City Region, West Yorkshire, West Midlands, Greater London, West of England, South Wales, Glasgow, Edinburgh-Dundee corridor, and Belfast. These areas will act as growth hubs, creating an attractive business environment that will encourage future investment.

The funding was announced at a summit in Gateshead at The Glasshouse International Centre for Music, which brought together over 250 creative businesses and cultural leaders to outline the plans for government support.

Culture Secretary Lisa Nandy said: “From film and fashion to music and advertising, our creative industries are truly world-class and play a critical role in helping us deliver on this Government’s mission to drive economic growth in all parts of the UK. Our £60 million funding boost will support creative and cultural organisations across the UK to turbocharge growth by transforming local venues, creating jobs, supporting businesses and spreading opportunity across the country. But this is by no means the limit of our ambitions, which is why the creative industries are at the heart of the forthcoming Industrial Strategy and will continue to play a key part in this Government’s Plan for Change.”

The investment is the first step in the government’s Creative Industry Sector Plan due to be fully launched in spring 2025. The Plan will identify the barriers holding back the sector’s potential as well as ambitious growth plans to position the creative industries at the centre of the UK economy.

Alfie Scarborough, CEO of adCAPTCHA, commented: “Creative industries should form the backbone of UK economic growth, providing entertainment for the nation through streaming services, theatre, cinema and the Internet. Society increasingly lives by an on-demand culture so supporting innovation within the creative industries can support businesses to deliver more content than ever before, while supporting grassroots creatives that underpin the success of the sector. However, investment alone won’t be the catalyst, there can also be significant cost savings within the industry. For example, digital marketers are grappling with the bot epidemic, costing money to host on websites and littering analytics data with false impressions, completely sabotaging advertising budgets. Even good bots are costing marketers thousands. Bots account for half of the global web traffic so no website is immune, requiring businesses to implement bot detection systems that can identify and shut out malicious bots, protecting advertising content and budgets.“

The funding will be provided by The British Business Bank, which already delivers £17.4 billion in finance to over 64,000 businesses.

Durng the summit, the DCMS also announced that the British Film Commission (BFC) is to receive £1 million funding support to continue its work maximising and supporting the production of major international feature film and high-end television throughout the UK’s regions and nations.

Reacting to the news, Adrian Wootton OBE, Chief Executive of the BFC, said: “UK film and TV is globally adored, as well as being a key sector driving UK economic growth. We’re delighted by the Government’s recognition of the economic value of film and TV to the UK economy. We particularly welcome confirmation of £1m funding support for the British Film Commission. This is fantastic news for the BFC, for the industry and for UK PLC as a whole, and is a wonderful endorsement of all of the efforts to sustain our sector as a dynamic engine for growth. Working with partner screen agencies in the UK’s nations and regions, we will continue to create growth opportunities through investment and jobs across the UK, playing our part in supporting the UK’s rich creative and cultural heritage and future.”

Anne Mensah, Vice President of Content, UK, Netflix, added: “World leading creativity has long been at the heart of the UK. Today’s Summit, and the announcement of a £60 million boost for the creative industries, is a clear indication that the Government recognises the enormous contribution our sector makes to the UK economy and its potential to drive even greater growth. Netflix welcomes this commitment to an industry that creates jobs and investment right across the country. It will help ensure we remain one of the best places in the world to develop fabulous TV, Games and Film which connect with global audiences long into the future.”

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Tags: creative industries, Lisa Nandy