Shocking figures reveal the state of freefall for the culture and entertainment sector in terms of the UK’s GDP.
ADVERTISEMENTThe UK’s creative arts and entertainment sector shrunk by 15% in the last half of 2024, new data reveals. Analysis of figures from the Office of National Statistics (ONS) by performers union Equity has pointed to a concerning decline in the arts.
Since July – when the centre-left Labour Party came into government after 14 years of the right-wing Conservative Party – Equity has noted a 15% cumulative decline in the UK’s GDP from the entertainment sector.
That makes for an average monthly reduction of 3.7% across the sector, with the peak of decline coming in October at 4.6%. In the same period the overall GDP of the UK has contracted by 0.1%, showing the arts and entertainment sector is on a far more dramatic trajectory.
“The rapid and significant shrinking of the arts and entertainment industries since Labour took office is alarming,” said Paul W. Fleming, Equity general secretary. “Government must take urgent action to understand…
