How did the creative industry perform in 2017?

How did the creative industry perform in 2017?

2017 has come and gone, and what a year it’s been. Creative agencies have produced impressive content and campaigns during the last 12 months, and we’ve really enjoyed seeing everything they’ve created. But how did the creative sector fare economically, which campaigns have been the most engaging and successful, and what economic factors should you be thinking about as we head into 2018? 

To get a real picture of the creative industry’s economic impact in 2017, it’s worth examining its performance over the last few years. Looking back, the sector’s GDP contribution has grown year on year – from £63.4 billion in 2010 to a whopping £91.8 billion in 2016. 2016’s figure even grew by an impressive £6 billion on 2015’s number, and there’s no sign of 2017 bucking the trend. But why is that? For a start, 2017 has been home to lots of effective creative campaigns – lets take a look at some of them…

Lucozade: Contactless bottles

As part of an awareness campaign, Lucozade treated London commuters to a free trip on the underground back in May. During rush hour, the company handed out bottles of the energy drink that had contactless pins on the bottom, allowing commuters to simply scan the item at the gates and board their train without spending a penny.

Airbnb: Don’t Go There. Live There. 

After market research suggested that 86% of Airbnb users wanted to experience a new place like someone who actually lives there, Airbnb were inspired to launch their ‘Live There’ campaign. Hosted entirely through social media, it focused on Airbnb’s unique service – offering tourists the chance to live in an actual home rather than hotels while travelling, and encouraged deeper integration into local communities during a stay away.

Addict Aide: Like My Addiction

Addict Aide launched a campaign on Instagram to help shed light on alcoholism and how social media can be used to promote and encourage it.  Having caught the attention of the right audience – teenagers and young adults – the campaign ultimately generated 5 times as much web traffic for Addict Aide’s homepage.

Heineken: Worlds Apart

Heineken set out to prove that having a simple conversation over a beer can bring even the most diametrically opposed people together. Having been given three tasks to complete, participants would only discover how different they really were towards the end of the beer maker’s social experiment.

Tesco: Discover app

Having teamed up with Engine Creative, Tesco built an AR app to enhance the shopping experience for their customers. Tesco Discover allows shoppers to scan pages from their brochures, where they can access an array of related information, images, video, competitions and more. The app also builds on Tesco’s successful partnership with Disney, letting users scan Frozen-themed books and stickers to bring a 3D scene from the movie to life within the Discover app. Customers can even take virtual selfies with various Frozen characters within the AR app.

Embracing new mediums

Right now, the creative industry accounts for around one in 11 jobs in the UK, and that number is rising – unlike other industries, the creative sector is one of the least likely to lose jobs to automation. Combine that with industry-wide collaboration, entrepreneurialism and a raft of new trends, and you’ve got a recipe for continued growth. And creatives have been quick to incorporate fresh mediums into their work this year.

From augmented reality (AR) to artificial intelligence (AI) to social media live streaming to virtual reality (VR), agencies throughout the country have jumped on these tools and used them to create engaging content for their audiences. Inside the creative industry, the best example of this is the rapid growth of a field known as ‘createch’ (which grew 11.4% in 2016). Createch is an area in which technology is used to enable and enrich creativity (particularly for things like audio, video and storytelling), allowing content producers to deliver new services, products and experiences to consumers. As a result, new, immersive technology mediums like the ones mentioned above have encouraged continued innovation in this field and are sure to deliver further growth and development in 2017, particularly as the technology becomes more advanced and readily-available.

What to look out for in 2018

It’s estimated that by 2018, the value of the creative industry in the UK will grow by almost £9 billion to a total of £100 billion. And with the continued success of UK exports in games, design, film and TV, music and more, it’s essential for creative businesses to be ahead of the curve and prepared to experiment with new technology and creative mediums next year.

To help with this, the UK government are investing £500 million in AI, full fibre broadband and 5G (the fifth generation of telecommunications standards). And with over 2 million people employed in the creative sector in the UK, this money is expected to bolster the country’s position as a creative market leader on the world stage.

As the UK moves closer to severing its ties with the EU next year, it’s also worth considering the affect Brexit could have on the industry’s talent pool. While creatives are currently free to travel throughout Europe for business, this could soon change and agencies will have to rely on the UK’s workforce to provide the talent and skills they need. That means businesses will likely have to refocus and invest in the training and development of UK-based workers in 2018 in order to avoid falling behind in the years to come.

If you want to know more, give us a call on 03332 400 888 or email designsolutions@Jigsaw24.com. For all the latest news, follow @WeAreJigsaw24 on Twitter, or ‘Like’ us on Facebook.