Blog: PRontheGO Deep-Dive: Creative Industries and Digital Economy Driving Significant Economic Growth

by The Coup // 1 Files //  

0

// back to blogs

 
Creative industries are more important than ever for innovation and economic output. In Berlin, New York and London, creative industries and the digital economy are vital to their city’s economies.

Founders in startups, the film industry, in fashion, design, art, advertising, literature, fitness, food, travel or music, are key contributors to economic growth and employment. These are also sectors that rely almost entirely on self-employed freelancers and small enterprises.

PRontheGO boosts publicity efforts for creative founders. PRontheGO.com is an online-service-portal which delivers actionable PR tips and inspiration in a do-it-yourself format. Founded by PR Consultant and Owner of The Coup Public Relations Melanie Marten, the portal offers relevant PR content such as tips and links for press coverage, as well as journalist contacts for creative entrepreneurs.

PRontheGO looked at three cities renowned as some of the world’s most exciting locations for art and culture and how creative industries and the digital economy are contributing to innovation and economic growth.

Berlin: A Thriving Creative, Digital and Innovation Sector

In October 2018, the World Economic Forum declared Germany as the world’s most innovative economy, outperforming the United States and Switzerland. With culture and creative industries leading the economy’s most innovative sectors , 2016 saw sales reach €154 billion from the creative industries alone.

Berlin, in particular, is one of the country’s most important hubs for the cultural and creative economy. We see this most noticeably in the digital economy, which boast 88,206 workers — more than any other major city in Germany — and 9,696 digital companies .

Tech founders and freelancers in the creative fields here are breaking out of the traditional office environments and collaborating with like-minded thinkers to fuel innovation and growth at the increasing number of co-working spaces and innovation hubs throughout the city now calling Berlin home.

Findings in Berlin’s Third Creative Industrie report show that the creative industries in Berlin represent a hard economic factor, which represents growth and employment. With industries such as music, media, design, software, gaming, architecture and performing arts showing higher than average development compared to other cities in Germany.

With one in seven new jobs in Berlin created in the digital economy, the number of companies that fall under the digital economy sector is as high as Munich, Hamburg and Frankfurt combined. So when you add Germany’s dependence on innovation, this means good news for early-stage founders and creative freelancers.

While innovation in Germany may have reached its peak, it’s more important than ever that the digital and creative industries keep innovating. In particular, the number of women who registered patents and copyrights in 2018 was still too low. So we can hope to see a push for female entrepreneurs through female-focused incentive programs.

To learn more about how the digital economy is contributing to Berlin’s growth, have a read through this report from Investitionsbank Berlin.

New York City: America’s Creative Engine

In New York City, the creative sector is one of its most important economic assets. Here, creative industries are the fastest growing segments in the Big Apple’s economy, outperforming finance, legal and insurance sectors.

From 2003 to 2013, creative jobs grew by 15% across all sectors: music, film, advertising, performing arts, publishing, broadcasting, visual arts, applied design, architecture and independent artists. Now, more the ever, the arts and the broader creative sector have become even more critical to city’s economy. In 2013, these industries accounted for 295,755 jobs in the city.

Brooklyn, for example, can thank the creative economy for its economic rise since the early 2000s. However, some may even say that the sheer number of galleries and studios that have cropped up in the borough, have contributed to an influx of chain stores and luxury condos. This has also spilled into Queens and even Manhattan, therefore taking away business from small business and independent artists.

While the number of opportunities for self-employed creative freelancers in the digital economy are plentiful and may be higher than Berlin, New York’s exorbitant costs of living make it challenge to get an innovative idea, product or service off the ground.

London: Creative Industries are Booming

In the UK, creative industries add almost £90bn net to its GDP and account for one in every 11 jobs. These jobs are also the least to be lost to automation and the number new opportunities are rising rapidly.

Like Berlin and New York City, London’s creative industries are key to economic growth and innovation, representing a significant part of the UK capital’s economy, as well as a massive share of the sector in the UK. In London alone, the gross value added by the creative industries was £42.0 billion in 2015: just under half of the UK’s entire total for this sector.

Digital industries are the largest sub-group in the creative industries’ sector, accounting for more than half of economic output growth since 2009.

Similar to New York, the number of opportunities in the digital and creative economy are plentiful and, London’s higher costs of living make it challenging for up-and-comers to get an idea or innovation off the ground.

— —

Subscribe to PRontheGO to receive the latest insider tips on how to grow your editor and client database. We’ll also inform you as soon as the mobile app goes live!
IMAGE // THE COUP
 

// back to blogs