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    Unit 7 Out 1

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    Unit 7 Out 1

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    unit 7 out 1

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    Download as docx, pdf, or txt
    174 views2 pages

    Unit 7 Out 1

    Uploaded by

    api-480079676

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Unit 7

    Outcome 1 task 1
    Understand the structure and ownership of the media
    sector
    The creative media sector encompasses a diverse set of sectors that intersect and
    employ a significant number of people in positions that span several industries.
    Television, film, radio, computer game development, interactive media, photo
    imaging, marketing, press, and advertising are among these industries. This industry
    is distinct in that it relies on the imagination of individuals and organisations to
    produce a visual message that appeals to a broad audience.

    Prior to the pandemic, the creative industries were one of the fastest growing part of
    the UK economy. They are defined by the UK government as “those industries which
    have their origin in individual creativity, skill and talent and which have a potential for
    wealth and job creation through the generation and exploitation of intellectual
    property”.

    According to the Creatives Industries Federation, almost 1 in 8 businesses are


    creative businesses. 95% of those businesses employ fewer than 10 people,
    however, yet the creative industries contribute £115.9 billion gross value to the UK
    economy which is "greater than the automotive, aerospace, life, sciences, oil and
    gas industries combined"

    Because of the nature of the creative media industry, contracting is always


    competitive. To win a contract, businesses are constantly under pressure to produce
    high-quality work for less money than their competitors. A higher price can only be
    negotiated once a company or individual has established themselves in the industry
    to a recognisable and respectable level. If you can reach a point where your work is
    so in demand that you have to turn down projects or queue them up, that's even
    better.
    - The Creative Industries were growing at more than 4x the rate of The UK economy
    as a whole and in all parts of The UK...

    - The Creative Industries exported £36bn in services worldwide and accounted for
    almost 12% of UK services exports.

    - In the last 10 years, jobs in The UK's Creative Industries have grown of three times
    the UK average.

    - A third of the sectors workforce are self-employed.

    - The Creative Industries employ over 2 million people in The UK and were projected
    to create an additional one million jobs by 2030.

    - Global talent has been vital to the sector's world leading reputation, innovation, and
    economic success.

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