UK to launch new online marketplace for content creators

The government will establish a Creative Content Exchange for local digital content as part of a £380-million investment in the UK’s creative industries.

This investment underpins the Creative Industries Sector Plan, which was announced on Monday 23 June and sets out a multi-faceted strategy for growing creative industries in the United Kingdom.

Part of the plan will see the establishment of a Creative Content Exchange, which the government said will help to monetise and protect copyrighted material generated in the UK.

It will act as a trusted marketplace for selling, buying, licensing and enabling permitted access to digitised cultural and creative assets, opening up new revenue streams for content owners, the government said.

Through the Creative Industries Sector Plan, the government hopes to grow business investment in the creative sector from £17 billion to £31 billion by 2035.

£150 million will be allocated as a Creative Places Growth Fund for six regions outside of London, helping local Mayors to support creative businesses in their communities.

£50 million is set to be invested in a new wave of Creative Industries Clusters, which bring together universities, businesses, policymakers, and private funders to drive innovation in creative industries, and £25 million will be spent on five new UKRI CoSTAR R&D labs and two showcase spaces, which will develop technologies like those used in Abba Voyage.

The government also said it will invest more in NFTS apprenticeships, creative careers services, and other initiatives to improve participation in the creative sector.

High-growth industries within the creative sector are also set to benefit from the funding package, including film, music, and video games. The Sector Plan includes the following tailored packages for these industries:

A £75-million Screen Growth Package supporting UK content development and international investment, and showcasing the best of UK and international film.
A Music Growth Package worth up to £30 million, helping emerging artists break through at home and abroad.
A £30-million Video Games Growth Package, backing the next generation of start-up games studios and developers.

“Our creative industries are powerful economic drivers in this country. By placing them at the heart of our Industrial Strategy this Sector Plan, backed by £380 million of investment, will boost regional growth, stimulate private investment, and create thousands more high-quality jobs,” said Culture Secretary Lisa Nandy.

“This Sector Plan will help nearly double business investment to £31 billion by 2035, supporting our mission to raise living standards everywhere as part of our Plan for Change, ensuring the UK remains the world’s creative powerhouse.”