An EY study, Rebuilding Europe - The cultural and creative economy before and after the COVID-19 crisis, commissioned by GESAC and supported by various organisations in the cultural and creative sector, including IFRRO, was launched on 26 January.
The study shows that Cultural and Creative Industries (CCIs) had a turnover of €643 billion and a total added value of €253 billion in 2019, with the core activities of CCIs representing 4.4% of EU GDP. However, as a result of the covid-19 crisis, in 2020 the cultural and creative economy lost approximately 31% of its revenues, with a net drop of €199 billion from 2019, making it one of the most affected in Europe, more than the tourism and automotive industries. It is predicted that the crisis will have a massive and lasting impact on the entire CCI value chain.
The report considers that the priorities for the recovery and growth of the creative economy are: 1) “finance” (public funding and promote private investment in CCIs), 2) “empower” (promote Europe’s diversified cultural offering by ensuring a solid legal framework to allow for the development of private investment and guaranteeing appropriate income for creators), and 3) to “leverage” CCIs as a major accelerator of social, societal and environmental transitions in Europe.
IFRRO continues to work with a broad network of organisations in the cultural and creative sector (CCS). We joined 109 cultural networks in co-signing an open letter to the European Commission (see here) and to EU Member States’ governments (see here) on 30 October, asking for EU Member States to ensure that CCSs are consulted in the design of - and integrated in - their national recovery plans and that at the very least 2% of their national Recovery and Resilience Facility budget is allocated to the CCSs, as called for by the European Parliament’s Resolution on the “Cultural Recovery of Europe”.
IFRRO will shortly be launching a series of online events, to allow authors, publishers and RROs to discuss the covid-19 crisis, the solutions found and the future, together with representatives from the European Commission, European Parliament, the Council of the EU.