Market Analysis

In an update to the publication Market analysis of the cultural and creative industries in Europe provides insight into the growth of the European cultural and creative sector before the corona pandemic and outlines the main trends in the sector. The publication confirms that investment in the sector is necessary and justified, in part because the sector provides many jobs across EU member states. The main driver of the growth of the European cultural and creative sector in Europe is the audiovisual media and multimedia sector.

Investment in the cultural sector is necessary and justified

• The sector represented an average of 5.5% of the value added of EU Member States in 2017.
• Value added grew at a rapid pace from 2013 to 2017.
• The sector employs an average of 6.2% of the workforce in EU member states.
• In terms of value added and employment, the sector is comparable to other major economic sectors, such as information and communication technology and accommodation and food services.
• The sector provides content to other industries that depend on creative output.
• The sector can play an important role in reshaping Europe's post-pandemic social and economic structures and sectors.

The contribution of culture to Europe

Another study also shows that the cultural and creative sectors are an important part of, and should be central to, Europe's solution to the current situation and its economic and social consequences. The study Rebuilding Europe: the cultural and creative economy before and after COVID-19 charts Europe's thriving cultural and creative economy before the pandemic, and the impact of restrictive measures during and after. The study includes a set of recommendations to enable the sector to contribute optimally to the recovery of the European economy.

The European cultural and creative sector is more severely affected by the pandemic than the tourism industry and only marginally less than the air transport sector

The European cultural and creative sector is more severely affected by the pandemic than the tourism industry and only marginally less than the air transport sector. The sector as a whole suffered a loss of more than 30% of their turnover for 2020 - a loss totaling € 199 billion - with the music and performing arts sectors suffering losses of 75% and 90% respectively, visual arts € 53 billion, audiovisual € 26 billion.

The report recommends massive public funding and the promotion of private investment, and emphasizes that a solid legal framework is needed to revitalize the creative economy and secure its long-term growth.

You can download the above reports below:

Market Analysis of the Cultural and Creative Sectors in Europe

Rebuilding Europe. The cultural and creative economy before and after the COVID-19 crisis.

European recovery - The cultural and creative sector before and after the corona crisis (summary)