Britain’s world-leading creative industries are set to consolidate the country’s position as a global creative powerhouse, following a groundbreaking new Industrial Strategy deal agreed between government and the Creative Industries Council (CIC) on behalf of the sector.

As part of a Creative Industries Sector Deal, to be announced today by the Digital and Culture Secretary Matt Hancock, Business Secretary Greg Clark and Co-Chair of the CIC, Nicola Mendelsohn, more than £150 million is being jointly invested by government and industry to help cultural and creative businesses across Britain thrive.

A Cultural Development Fund will also be launched for cities and towns to bid for a share of £20 million to invest in creative and cultural initiatives. The power of culture and creative industries to boost economic growth is evident across the country. In Hull nearly 800 jobs have been created and almost £220 million invested in Hull’s tourism and cultural sectors since the city was named UK City of Culture 2017. And in Bristol creative hubs like the Bristol Temple Quarter are delivering thousands of jobs in design, media and music businesses.

The Sector Deal aims to double Britain’s share of the global creative immersive content market by 2025, which is expected to be worth over £30 billion by 2025. To seize on the opportunity of this expanding market, government is investing over £33 million in immersive technologies such as virtual reality video games, interactive art shows and augmented reality experiences in tourism.