Wales’ creative sector supports more than 100,000 Welsh jobs

Media Cymru has launched a new campaign, Fuelling the Future, that highlights the necessity for research, development and innovation (RD&I) investment in Wales’ creative industries.

Media Cymru’s latest economic analysis (2023 data) shows an economically valuable, yet precarious, creative sector that supports more than 100,000 Welsh jobs – almost 7% of Welsh employment – across 11,740 enterprises.

The sector’s turnover of £5bn grew 20% in the period between 2022 and 2023. The sector has grown by an average of 750 businesses per year since 2019, with more than half (54%) of the Welsh creative industries workforce based in the Cardiff Capital Region (CCR).

The growth is rapid, but fragile, argues Media Cymru, stating that with 95% of businesses classed as small, many lack the RD&I capacity to sustain it.

Fuelling the Future aims to highlight the impact that RD&I has had thus far in Wales, and how crucial it is to continue to grow and nurture and the industry.

Through a series of targeted funding calls since 2022, Media Cymru has invested more than £4.4 million into the sector via its Innovation Pipeline. The body is now calling for policymakers to prioritise long-term, sustainable investment for innovation activity to support the creative industries – a ley economic driver for Wales.

Professor Justin Lewis, director of Media Cymru, said: “Our data shows not just the rapid rate of growth but also the knock-on effects for the region and wider economy.

“Creative industries have unique challenges when it comes to innovation, 95% of businesses are small and often lack RD&I capacity. But our work in the Cardiff Capital Region – both with Media Cymru and previously, with the innovation programme Clwstwr – has shown that building a supportive innovation ecosystem can produce tangible economic returns.

“For every £1 invested in RD&I, £6 is added to the economy. That multiplier speaks to the kind of strategic value this sector can deliver and why it is vital that we have a plan for long-term support for creative innovation.”

Media Cymru’s campaign spotlights a range of Welsh creative enterprises, from independent studios to interactive game developers, showcasing their innovation. It also aims to encourage more businesses to adopt innovation-led models to remain competitive in a rapidly evolving global market.

Case studies featured in the campaign include virtual production facility fivefold studios, production companies Boom Cymru and Rondo Media, broadcast centre Whisper Cymru, audience service agency Dark Arts Digital, BBC Cymru Wales and games publisher Wales Interactive.

Media Cymru is funded through £22m from UK Research and Innovation’s (UKRI) Strength in Places Fund, £3m from Cardiff Capital Region, £1m from Welsh Government, through Creative Wales, and £23m match-funding from industry and university partners.