In 2023, the value added of publishing, audiovisual, and broadcasting activities in the UK stood at 34.53 billion pounds sterling. Historically, this sector has shown a moderate upward trajectory, with notable fluctuations in annual growth rates. From 2013 to 2023, the sector grew with a CAGR of approximately 2.37%, illustrating a consistent but mild expansion. The sharpest increase was seen in 2016 with a 6.71% growth, while some years like 2017 and 2019 experienced slight declines.
Between 2021 and 2023, the sector's year-on-year growth ranged from 1.53% to 1.64%, underscoring a period of steadier, albeit lower, growth rates compared to earlier years. A forecasted 5-year CAGR of 1.08% suggests continued modest growth, projecting the value to reach 36.98 billion pounds sterling by 2028, embracing a 5.52% increase over the forecasted period.
Future trends to watch for include:
- Technological advancements enhancing content delivery and consumption.
- The increasing role of digital platforms and streaming services.
- Shifts in consumer behavior favoring on-demand and personalized content.
- Potential regulatory changes impacting the sector.
