NOT LESS than 4.3 billion Pounds was invested in the creation of content in the UK alone in 2007. Chairman Norwegian Copyright Development Association(NCDA), Professor Helge Ronning, made the revelation in his paper, Cultural Industries and Economies of Creation during the COSON Week in Lagos.
Quoting from a report published by Price Waterhouse Coopers in 2011, the professor said that at least 850 Pounds was invested in literature while 720 Pounds was invested in artistic works, and that at least 770,000 people were involved in the creation of original content.
He said that the department of Culture, Media and Support estimates that the creative industries generated 5.6 percent of total Gross Value Added (GVA) in the UK in 2008 and provided 2.3 million jobs.
“Estimates based on the World Intellectual Property Organisation (IPO) suggest that the UK has the largest core and dependent copyright sector in Europe at 8.4percent of GDP”, he said adding that research however shows that the size of copyright dependent sectors have grown steadily in the last decade”, Ronning Said.