Creative Recessions: Are the Creative Industries the way out? March 9, 2009 The last few weeks has seen myself and other creative industry commentators share information (through Twitter , Google Reader feeds etc) about how various institutions, companies, governments and individuals are championing the cultural and creative industries (some saying 'the arts') as a way out of the current financial turmoil. There is no doubt that while the financial sector has been imploding, the creative industry sectors have been steadily increasing their wealth, income generation and presence (in the UK economy at any rate) -- or so the rhetoric would have you believe. NESTA's recent report on how the creative industries will be the engine of growth in the UK suggests "between 2009 and 2013 the UK creative industries -- which is responsible for films, music, fashion, TV and video games production -- will grow on average at 4% -- more than double the rate of the rest of the economy. By 2013, the sector is expected to employ 1.3 million people, likely to be more than the financial sector" (quote taken from here ). These are bold statements, given the recent problems that have been reported in the so-called creative sectors. Forster & Partners, the global architectural firm shed 350 workers , Geary has halved its workforce, ITV is facing huge job cuts through a fall in advertising revenue, the music industry continues to battle against online innovations which limit their profits, and a particular issue of mine, the