“We face a unique opportunity for the U.K. to be a global powerhouse of creative production, scaling up to meet growing demand both at home and overseas,” she said. “If our industry and the U.K. government work together to invest in skills, innovation, and key infrastructure, we will succeed in creating more prosperity for communities across the country.” She added: “There’s so much more to do, and Sky is determined to be an engine for that growth – powering creativity in the U.K.
The new industry report from Sky, in partnership with Public First and Oxford Economics, presented on Wednesday, emphasized that “the U.K.’s media and entertainment sector could be worth £53 billion to the U.K. economy in 2033 if growth continues at its current trajectory and with the support of the U.K. government.” It could also contribute an additional 40,000 jobs over that period.
Sky also highlighted its “major role in the U.K.’s cultural economy.” In 2022 alone, it supported a contribution of £20.0 billion to U.K. GDP, “broadcast 70,000 hours of elite sports coverage and invested over £130 million to provide news to consumers free of charge,” the company said. Sky’s new film and TV studio Sky Studios Elstree is projected to attract £3.0 billion of new production investment to the U.K.
“The research demonstrates the important role that original British content is already playing in the success of the U.K. creative industries, and how investment in better content, better tools, and better customer journeys, would further boost its value,” Sky emphasized. For example, one in two U.K. adults were found to be more likely to watch a TV show if it is set in the U.K.