Cultural and Creative Industries revenues surpass India’s GDP and employ 1% of the world’s active population, according to new study

Cultural and creative industries (CCI) generate US$2,250b of revenues and 29.5 million jobs worldwide according to a global study just published by the International Confederation of Societies of Authors and Composers (CISAC).  The study, which focussed on revenues and employment was undertaken by Ernst and Young (EY) and covered11 sectors including Books, Visual Arts and Newspapers and Magazines, in 5 global regions.

The study reveals that CCI revenues worldwide exceed those of telecom services (US$1,570b globally), and surpass India’s GDP (US$1,900b). The publishing sector (books, journals and newspapers) is the biggest sector within the cultural and creative sector, with a revenue of US$ 497 in 2013 employing nearly 7.2 million people. Separating books, and newspapers and magazines, the top three earners are television (US$477b), visual arts (US$391b), and newspapers and magazines (US$354b). With 29.5 million jobs, CCI employ 1% of the world’s active population. The top three employers are visual arts (US$6.73m), books (US$3.67m) and music (US$3.98m).  It also concludes that If we want authors and creators to continue creating culture and promoting cultural diversity, they must be compensated fairly for the use of their works. The current failure to properly reward creators is limiting CCI revenues, and holding back their growth and ability to generate job creation.  Currently the value chain has been distorted in favour of internet intermediaries and this imbalance needs to be addressed by policy makers across borders, so that the internet becomes a fair-trade place for creators and their works.
Highlights for IFRRO sectors are as follows:

Visual arts: The sector is particularly prominent in Asia in revenues and jobs (both 49%).  The visual arts — including varied activities — are the first employers in the CCI globally and the global art market is booming.

Newspapers and magazines: This sector is also important in Asia - revenues (40%); jobs (57%)  In mature countries, the sector is experiencing structural decline, and a shift to online editions but in emerging countries, print newspapers are booming. China and India combined is likely to account for 57.3% of global average daily unit print circulation in 2019, up from 49.7% in 2014.  Total magazines revenues will remain on an upward curve to 2019, driven by a 1.5% growth in trade magazine revenue.

Books: The sector accounts for 37% of revenues in the EU and 46% of jobs in Asia.  Print is alive and well: in 2015 it will represent 80% of all book sales worldwide, and even higher in developing countries.  Total global books revenue is set to rise to US$128b in 2019, from US$120b in 2014. Growth will be driven by India, which became the 10th-largest book market in 2014 and will see the fastest growth globally in total books revenue. The growth of educational books will outpace consumer and professional books revenues: between 2014 and 2019, total global educational books revenue will grow 2%, exceeding the 0.8% for consumer books revenue and 1.6% for professional books revenue.
Click here for the study and here for the dedicated website set up by CISAC.