It’s been a crazy year for politics with the UK voting to leave the European Union and defying late polls, Donald Trump being elected President. With so much uncertainty filling the air it’s no wonder people are starting to feel concerned with how this is going to affect the creative industries, especially as they have been valued at £84.1 billion per year to the UK economy.
There’s something pretty special about the creative talent in the UK. I don’t know exactly what it is but UK artists appear to create some of the most beautiful work out there and thanks, in part, to the huge success of films like Harry Potter and Star Wars, the UK’s VFX and Post production industry has come to dominate the global market place.
So, has this hugely respected talent pool become even more attractive since the UK’s decision to leave the EU? In financial terms the subsequent fall in the value of the pound the US Dollar can effectively stretch further by 18%. This means international clients can get a bigger ‘bang for their buck’.
Although President Elect Trump has indicated a protectionist approach during his campaign, he’s also indicated forging a closer relationship with the UK, whom he wants to place ‘back at the front of the queue’ in terms of deals. Given that Hollywood production of entertainment is still one of the US’s biggest exports, and that VFX and animation will remain a growing ingredient of these productions, it’s highly likely the US will want to take advantage of the UK’s huge talent pool at a lower cost.
At a time when YouTube is reporting that mobile video consumption rises 100% every year, never has there been a greater time to take advantage of a seemingly negative situation!
(Image credit – Daily Mail)