Public Investment, Public Gain. Creative Industries Federation Report
A new Fed report outlines how public investment into the UK’s arts and culture unlocks social, reputational and economic value. ‘Public Investment, Public Gain: How public investment in the arts generates economic value across the creative industries and beyond’ was published on 29 May 2019.
The Introduction (page 5) is an excellent 600 word summary of the report.
The report highlights the value derived from public investment in arts production in three sections;
Talent, Jobs and Growth
Innovation
New Models of Investment
“This commercial success was umbilically linked to the deep talent pool of the publicly funded arts.”
The foreword by Alan Bishop, Chief Executive, Creative Industries Federation summarizes the link between public investment in arts and commercial success of the creative industries.
“ The success of Britain’s creative industries is now much admired. Their dynamic growth and massive contribution to the economy are widely appreciated. But the reasons for that success seem to be less well understood. Some put it down to exceptional and brave commercial investment. In fact, the main explanation for that success was the creation of an extraordinary talent pool, largely as a result of public funding.”
Read the report on the Creative Industries Federation website.