A report about media & advertising found on The Edge Financial Daily, May 19, 2011
Well-nurtured creative economy can be source of socio-economic growth, jobs, innovation and trade, says UNDP.
Some notes from Creative Economy Report 2010:
- Global exports of creative goods and services—ideas and creativity-centred industries such as arts and crafts, audiovisuals, books, design, films, music, new media, visual and performing arts— have more than doubled from 2002 to 2008, reaching nearly US$600 billion.
- Despite the 12 percent decline in global commerce in 2008, world trade of creative goods and services continued to expand with an average annual growth rate of 14 percent.
- Evidence suggests that even during the global recession, people continued to go to cinemas and museums, listen to music, watch videos and television shows and play video games. Even in times of crisis, creative products continue to thrive as an integral part of our lives.
- Developing countries should harness the socio-economic potential of the creative industry to achieve a more sustainable and inclusive economic recovery. Efforts should be placed on:
1. attracting investors,
2. building entrepreneurial capacities, and
3. optimising trade potential of their creative products.
Article source: http://content.undp.org/go/newsroom/2011/march/les-industries-en-rapport-avec-la-crativit-et-la-culture-rsistent-mieux--la-crise-conomique.en
Some notes from the newspaper:
- The key creative industries are the music and film industry, television and radio broadcasting, performing arts and the trade of digital creative content. Accounting firm PricewaterhouseCoopers in 2008 forecast that the global entertainment and media industry alone would contribute around US$2.2 trillion to the world economy by 2012.
- In the aftermath of the crisis, the firm demand for creative products is a sign that many people are eager for culture, social events, entertainment and leisure. "They are devoting a higher share of their income to memorable life experiences that are associated with status, style, brands and differentiation."
- “If well nurtured, the creative economy can be a source of socio-economic growth, jobs, innovation, and trade while at the same time contributing to social inclusion, cultural diversity, and sustainable human development,” said Rebeca Grynspan, associate administrator of UNDP.
According to the study, the Malaysian government is seeking to boost the industry and has launched strategies in five main areas.
1. the provision of infrastructure facilities,
2. minimising bureaucracy,
3. development initiatives through the Ministry of Culture, Arts and Heritage, supporting local producers in the expansion of TV and radio production,
4. reduction of tax rates, and
5. the tightening of intellectual property enforcement to combat piracy.
http://www.theedgemalaysia.com/media-a-advertising/186786-creative-industries-more-resilient-.html
