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 Jack Sargeant 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.”
