- Sadiq commits more than £10m funding into London’s creative economy over the next four years
- The funding for the British Fashion Council, Film London, Games London and the London Design Festival, is expected to add more than £2.5bn to the economy
- The creative industries play a key part in the capital’s economy and supporting them is at the heart of the Mayor’s London Growth Plan to increase prosperity
The Mayor of London, Sadiq Khan has today announced plans to invest more than £10m into the capital’s creative and cultural industries over the next four years, helping to generate more than £2.5bn for the capital’s economy.
The British Fashion Council, Film London, Games London and the London Design Festival will receive the funding as part of the Mayor’s plans to boost growth, this follows the announcement of his London Growth Plan last month.
The funding will help the organisations to support creative businesses and boost jobs, deliver annual trade shows, festival and events including the London Games Festival, London Fashion Week, London Film Festival and London Design Festival. This hugely successful work helps to maintain London’s global reputation as a world leader in the creative industries, generate business and provide new opportunities for young people across film, television, animation, visual effects, games, fashion and design.
It is expected to leverage more than £2.5bn in film investment in the capital, up to £60m in fashion sales, up to £17m in games investment, and up to £15m in sales and exports for up to 800 design businesses. It will support more people into work, improve access for Londoners to skills and training, and attract world-class talent to the capital by creating up to 42,000 film and TV crew employment opportunities, 150 games jobs and 300 training and employment opportunities. Previous funding for the British Fashion Council, Film London and the London Design Festival has helped to secure over £7.5.bn in sales, trade and investment since 2016.
London’s creative industries bring £51.7bn to the economy each year and account for one in five jobs. The industries grew faster than the UK economy between 2010-2023, but face a number of challenges following the impact of Brexit and the pandemic. The Mayor is committed to supporting the capital’s creative industries and is a key part of his London Growth Plan, which will kickstart the capital’s productivity and make London’s economy £107bn larger by 2035.
The Mayor of London, Sadiq Khan, said:
“I want London to grow and thrive over the next decade and our creative industries have a central role to play. They help make London the greatest city in the world and are vital to London’s success and future as well as the whole of the country. That’s why, as part of the London Growth plan, I’m investing in fashion, design, film and gaming to keep our capital at the forefront of these industries and drive growth, as we build a better London for everyone.”
Justine Simons OBE, Deputy Mayor for Culture and the Creative Industries, said:
“Culture and creativity are our DNA in London and key to our success as a global city. It’s vital for industry and Government to work together to help us keep our position on the world stage, and this investment shows our ongoing commitment to fostering creativity and innovation within the capital. London’s flagship cultural events not only draw considerable global interest, they also play a crucial role in generating employment, nurturing creatives’ careers and boosting tourism.”
Caroline Rush CBE, Chief Executive, British Fashion Council, said:
“Investing in London’s creative industries is essential and enables us to bolster London Fashion Week, which delivers in commercial and cultural impact. This continued funding from the Mayor of London is critical in providing emerging designers with showcasing opportunities and access to market, enabling them to grow their businesses in an increasingly challenging environment. Investment like this not only bolsters individual careers but also reinforces the UK’s position as a global leader for fashion and creativity.”
Adrian Wootton OBE, Chief Executive of Film London, said:
“London is a global centre for film, TV, animation and games, generating billions of pounds and thousands of jobs. With its stage space, award-winning talent, infrastructure and new tax credits, London is on course for real, game-changing economic opportunities. This investment in Film London and Games London will help us to seize those opportunities, driving growth in the capital’s screen industries through innovation, nurturing talent and championing new generations of story-tellers and audiences in London. Our thanks go to the Mayor of London for this continued support and investment in the industry.”
Michael French, Head of Games London & Festival Director, London Games Festival, said:
“London’s potent and vibrant creative energy has built world-leading creative industries of which games and interactive are an important element. Funding from the Mayor of London has so far enabled Games London and the London Games Festival to support the city to become the games capital of Europe, and it is still growing. This renewed investment will support programmes that continue to drive investment back into businesses across London, create well-paid skilled full time jobs, uplift the games sector and create growth opportunities for the capital and beyond.”
Ben Evans CBE, Director of London Design Festival, and Executive Director of London Design Biennale:
“To sustain and grow London’s position as a global design city we must invest in showcasing. It is why the ongoing support of the London Design Festival by the Mayor is so critical. Now over 200 international cities have design promotion activities increasing competitiveness for London and the UK. Our now mature design and creative sector needs to fuel growth through international investment as well as stimulating domestic demand. Awareness of the breadth of opportunity and the depth of talent based in London must be strong for the design industry to thrive.”