The UK entertainment industry has grown by five per cent in the past 12 months, according to a new report released by PLASA which has valued the UK entertainment technology industry at £1.36bn in 2018/19.
The full report profiled the whole industry over 50 pages with an elaborate insight into market sectors, investment in marketing and R&D, industry workforce, trends over time and future predictions.
Each market sector received an investigation, including recent performance, challenges, and future potential. The sectors which reported the largest growth include architectural, broadcasting and corporate events sectors, which are valued at £250m, £220m and £160m respectively.
However, amongst the robust results from the past year, the report highlights considerable uncertainty about the future, with only a third of businesses surveyed expecting the industry to grow in the next year. The main concern is how and when the UK will exit the European Union.
“We are delighted to offer this important resource,” said PLASA managing director Peter Heath. “It provides vital insight for business planning, budgeting and benchmarking performance – I encourage all businesses to download the full report.”
“Whilst it’s great to see that the industry has performed so well over the last year, we are clearly looking towards a period of uncertainty as Brexit looms over the sector. PLASA will continue to support our members to the fullest extent that we can.”
The 2019 Industry Research Report is available to download free of charge to PLASA members here.