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Creative ferment

What are the creative industries 'Shaun Beaney looks at the role they're playing in UK innovation, investment and deals - and why the Corporate Finance Faculty is stepping up it's engagement with the sector.

No one talks yet about the arts and creative industries as part of innovation. We want to change the conversation to one that’s between the arts and business.” So says Sara John, head of policy at the Creative Industries Federation, who also argues that it really should be viewed as a strategic sector for the UK. Why are the creative industries now seen as so significant?

  • The arts are an important part of a developed, modern society – a social ‘good’ that enrich lives.
  • A consensus – just about – prevails that access to both ‘high’ and ‘pop’ culture for as many people as possible is important in a forward-looking democracy.
  • Then, the clincher – the creative industries make a significant contribution to the economy, not least because of the knock-on benefits they create for innovation, skills and education.

The Creative Industries Federation (CIF) was launched last November. It is completely independent of government. John says: “Whether we succeed or fail depends on getting people involved.”

What’s the big deal? The government’s official definition of the creative industries includes video games, crafts, design, fashion, film, TV and radio, music, the performing arts, publishing and toys, as well as advertising, architecture and software (although some argue that those three belong in other sectors).

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