UK publishers’ exports leap by 45%
Publishing businesses in the UK are increasingly making money doing an activity that their counterparts in Advertising and Marketing are earning less from -- exporting.
In fact, new figures show that journalism, writing, authoring and translating firms grew the value of their exports more than any other creative sector between 2009 and 2011.
Over that period, when the value of advertising and marketing services being exported declined, the value of services exported by firms in publishing leapt by more than 45 per cent.
That means that services from UK publishing businesses received by clients overseas brought in £1.25billion in 2011, up from about £850million in 2009.
By contrast, UK advertising and marketing firms saw their exports over the three-year period slip, even without accounting for inflation and despite still being worth more (£2bn in 2011).
But publishing beats Advertising/Marketing when it comes to generating ‘support’ jobs in the creative industry, and ‘creative’ jobs in the creative industry.
However, advertisers and marketers trounce publishers in terms of producing creative jobs in the creative economy, and bring about more creative jobs outside of the creative industry.
Due to the government’s recent, much-frowned upon decision to classify IT, Software and Computer services as the ‘creative industry’, Advertising/Marketing is now the second biggest sector (£10.2bn and growing at 26.3%), and Publishing is the fourth (£9.7bn and growing at 5.2%).
19th January 2014