COBA and Pact launch screen clusters report

A new report from COBA and pact highlights how a mixed ecology of public and private finance has fuelled exceptional growth in the screen sector clusters of Glasgow, South Wales and Bristol. Over the five year period, investment in content rose strongly and jobs increased by 70%.

Rather than look just as the economic impact of any particular investment in the devolved nations and regions, this piece of work asks – to our knowledge, for the first time – what are the factors that drive sustainable growth in a screen sector cluster outside London? It is funded jointly by COBA and PACT and was carried out by Oliver & Ohlbaum Associates and Nick Toon of Rationale Consulting.

Across the three main clusters analysed (South Wales, Glasgow, Bristol), GVA was up from £1.32 billion in 2016 to £1.95 billion in 2022, while jobs rose 70% in five years to more than 19,000 FTE jobs. Total content investment in 2022 reached more than £700m, up from £439m in 2018 – an annual growth rate of 8%.

This was driven by a mixed ecology of different investors – public and private, PSB and non PSB. PSBs are the core bedrock of investment in local clusters, while non PSBs are fuelling exceptional growth. Non PSB multichannel broadcasters and SVoDs produced an annual increase of 15% between 2016 and 2022 and accounted for 37% of investment. PSB growth was half this at 7%, but PSBs still accounted for 47% of commissioning investment, providing vital stability.

The report concludes that policymakers should ensure a wide range of investors can flourish. This is vital to building critical mass and attracting investment on a sustainable basis that does not rely solely on public support. Specifically, the report recommends greater flexibility for Apprenticeships, maintaining competitive tax reliefs, and developing R&D tax support.

A copy of the full report is here.