S4C generates £136m for the Welsh economy
A new report reveals that S4C has generated £136m for the Welsh economy and created 1,900 jobs.
Wavehill carried out the research, to measure the channel’s social and economic effect on Wales and beyond for the financial year 2022-2023.
S4C which broadcasts more than 115 hours a week of diverse Welsh-language programmes, with the report finding that it contributes more to the economy than it receives in public money and supports 1 in 7 jobs in the creative industries in Wales.
For every £1 of licence fee funding S4C received, the broadcaster generated £1.53 in economic output in Wales, rising to £1.77 in the United Kingdom.
S4C is one of the most cost-efficient public service broadcasters in the UK, with a cost per hour significantly lower than other broadcasters and its activities also generate tax revenues in excess of the money it receives. For every £1 pound of licence fee funding S4C receives, £1.02 is generated in tax for the Treasury.
S4C has spent more than £79m with half its suppliers based outside the capital, Cardiff. S4C worked with over 977 suppliers in 47 different sectors in Wales and beyond.
Since its inception in 1982 S4C has supported the independent production companies established across Wales.
During 2022-23 S4C worked with 70 production companies and shared almost 80% of its budget to commission content. Over 98% of that content budget was spent with production companies headquartered in Wales.
Guto Bebb, S4C’s Interim Chair said: "The Wavehill report provides a good overview of the work S4C is doing to support the Welsh economy, create growth in the creative industries, and create jobs across the country.
"More money is sent back to the public purse by S4C than is originally invested – tangible proof of our ability to make every penny count.
"S4C plays an important role in the Welsh economy while also successfully contributing socially and supporting our culture and language.”
Welsh government minister for creative industries, Hannah Blythyn, added: “It’s great to see the importance of S4C being reflected in a direct, positive impact on the Welsh economy. Creative Wales looks forward to continuing its strategic partnership with S4C to support new opportunities for trainees, talent, high quality content and promoting Wales and the Welsh language globally.”
Image: Eve Myles in Keeping Faith, via BBC.
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