Arts, entertainment and recreation are all very important to the UK's economy. PwC predicts that the entertainment and media sector will grow to a value of £76 billion by 2021, an increase of £8 billion from 2017. This sector includes industries that are enjoying great success in the UK, including marketing, arts and film, and TV and radio, with the fast growing areas being virtual reality and E-sports. The UK has the largest market for both out of any EMEA country.
The creative industries are now worth over £92 billion to the UK economy. The sector accounts for over 5% of the country's GVA, and is growing at twice the rate of the overall economy. This is partly due to the government's continued support of the sector, including a £1 billion investment in the film industry in 2016, and tax relief to help large-scale TV productions, such as Game of Thrones and The Crown. The government also provides funding for new game projects via the UK Games Fund, which has recently been extended to 2020.
MoreMeanwhile, the live entertainment sector is also thriving. The sector enjoyed record revenue of £17 billion last year, and growth is predicted to continue. The sector encompasses a wide array of activities, including music festivals, cinema, sports events and art shows. The UK's tourism sector also continues to grow, and as a result now accounts for 4% of the total UK economy, having achieved record revenues of £66 billion during 2016.
At Global Database we've used our company data from the arts, entertainment and recreation sectors to put together a list of the top performers. Take a look at the results below to see who is currently bringing in the largest sums of cash.
