Boost to creative media sector in Wales

The Welsh creative media sector is set to benefit from a three-year project designed to help companies tap into the dynamic growth of international markets for creative content.

The initiative - Moving Image Wales - is supported by the Welsh Assembly Government’s Academic Expertise for Business (A4B) programme and will be delivered by the Creative Industries Research and Innovation Centre (CIRIC) at Swansea Metropolitan University.

Moving Image Wales has received £457,000 from A4B to provide Welsh SMEs access to state-of-the-art facilities and technological expertise in the latest advances in creative media.

Experts from the centre, which has a track record of working with the sector, will help businesses:

-  Capitalise on the potential of new super high definition technologies;
-  Provide technical and practical support at the development stage of proposals to enable companies exploit national and international funding markets in the digital economy;
-  Take advantage of opportunities to maximise the potential of digital content across multiple distribution platforms such as mobile, games, TV, and film.

An earlier feasibility study carried out by the centre found there is a significant demand for technology and knowledge transfer by the creative media sector, which is a key growth industry, employing more than 13,000 people in Wales working in companies with a total turnover of £350m.

That study identified twelve knowledge transfer projects from companies wanting to work with Swansea Met that could generate up to £70million into the Welsh economy if successful in attracting finance for full production and post-production.

Expressions of interest have also been received from several other companies wanting to benefit from the Moving Image Wales project and the University hopes to complete twenty knowledge transfer projects over the next three years.

Ieuan Wyn Jones, Minister for the Economy and Transport, said the Academic Expertise for Business programme was designed to give businesses a competitive edge by encouraging them to tap into the expertise and world-class facilities in Welsh universities.

“The intention is to create ‘added value’ for the economy by ensuring business and industry works with, and benefits, from the wealth of expertise in our universities which is increasingly important in the current economic conditions.
 
“The creative industries are potentially one of the most successful and fastest-growing sectors of our economy and Moving Image Wales is designed to support businesses in this very competitive field.”

An analysis of the market shows that over the last decade ancillary markets have grown by 30%, while sales to cable and network TV are increasing rapidly. New distribution methods such as satellite and cable, combined with emerging digital markets, are also accelerating demand for digital content, presenting huge growth opportunities over the next ten years.

Pioneering developments in high definition and internet based television offer even greater opportunities for growth.

Swansea Met is also collaborating with its partners in Skillset Screen Academy Wales, Newport and Glamorgan Universities and other organisations to ensure the best academic expertise within the sector is available to help businesses embrace new technologies.

-Ends-

24 November, 2009