A further £2.5m in Welsh Government funding has been announced
for the creative industries in Wales.
The funding will provide an injection of additional investment
into the film and TV sector. The publishing sector will also
receive support to respond to continuing challenges and support
revenue generation.
More than 3,500 businesses currently operate in the creative
sectors supported by Creative Wales, employing more than 35,000
people. Latest statistics show the sector generated an annual
turnover of £1.5 billion in 2023, an increase of more than 10 per
cent on the previous year.
This latest funding follows £2m of further investment by the
Welsh Government to Bad Wolf to produce two new high
end TV productions which will result in £30m spend in the
Welsh economy.
It takes the Welsh Government's production investment to £33.8m
across 70 projects since the launch of Creative Wales,
generating £419.7m for Wales' economy.
Wales' creative industries were spotlighted at the hugely
successful Wales Investment Summit. Building on this ‘Creative'
was the theme of the British-Irish Council Summit held on Friday.
Minister for Culture said:
“The creative industries are a real success story for Wales, and
we're hugely proud of the talent that exists across the sector.
Whether it's actors, storytellers, musicians, animators or games
developers, our creative industries consistently put our nation
on the global stage.
“Not only is the industry an important economic driver for Wales,
but we are fostering and upskilling the next generation of
creatives by incentivising training and apprenticeship
opportunities for our young people, ensuring Wales continues to
be a place to enjoy a successful, sustainable career.
“We are committed to investing in this part of the sector and to
nurturing talent, supporting creative businesses and encouraging
the creation of high-quality content that stands tall among other
countries.”
