The Future of Creative Industries by Kate Edwards (Mumbrella360)


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Prior to establishing Australia’s first brand funded content business, Kate was the,Managing Director of entertainment marketing, publishing and media agency Peer Group Media. Peer Group consisted of 45 staff across six entities, which included weekly street press title The Brag; trade bible The Music Network; talent agency Parker & Mr French; research arm Peer In; a PR arm and a full service agency. B&T Magazine named Edwards one of the thirty media professionals in Australia under 30 in their inaugural ‘Thirty Under 30’ campaign in 2010.

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The Future of Creative Industries by Kate Edwards (Mumbrella360)

  1. 1. The Future of the Creative Economy: Speech by Kate Edwards Mumbrella 360, Hilton Sydney Thursday 5th June 2014 Hi my name is Kate Edwards and I’m the Founder & Managing Director of Youth, Culture & Lifestyle based content strategy & creation business KONTENTED, Artist management company FOSTERED and Entertainment Services company INTERSECTION. All three of my businesses operate as functioning creative, thinking and doing collectives grounded squarely within the creative industries, which is why I have such a huge amount of passion to create debate around the future of our creative economy and why I am so proud to be here today. Economics has many definitions but is considered a science, a social science and a necessary tracking & reporting mechanism that deals with the production, distribution, and use of income, wealth, and commodities….much of economics revolves around SUPPLY and DEMAND and the simple theory that when there are increases in DEMAND for something, SUPPLY will always rise to meet the DEMAND. With this in mind, let me take you on a little journey through our vast creative landscape. 13.2 million people watch Free to Air TV in Australia daily. Game Of Thrones season 04 ep 01 set a new record for piracy with over 1 million illegal downloads of the show globally. A sample of 18,333 IP addresses over that first day shows that Australia takes the crown with 11.6% of the overall piracy. Back on terra firma, the latest Federal Budget has proposed that more than $28 million will be cut from the Australia Council for the Arts, $33.8m from arts programs run by the Attorney-General's office,
  2. 2. $25.1m from Screen Australia and $9.4m from the indigenous languages support program. A further $10m from the Australian interactive games fund and $6.4 million from the Get Reading! program have also been axed. That’s a total of more than $110 million in cuts to the arts and creative industries (111 700 million to be precise). We are home to global creative powerhouse’s like Shine, Animal Logic, Tropfest & VIVID but to name a few. Big Day Out pioneered the first travelling music festival globally over 20 years ago, we created Fruit Ninja and global smash hit advertising campaigns like Dumb Ways to Die & Come Say GDay (better known as ‘put a shrimp on the barbie’) starring Paul Hogan. Baz Lurhman and his talented wife Catherine Martin between them have more silver wear in the cabinet than the queen, counting BFAT’s, Tony’s, Golden Globes and Oscars as part of their haul. Our acting & performance stable is robust with names like Cate Blanchett, Nicole Kidman, Rose Burn and of course Wolverine coming from our National Dramatic Institute. Australia has hosted the creation of brilliant films such as The Matrix – nod to Animal Logic for the most well-know slo mo bullets ever. Superman, Gods of Egypt starring Gerard Butler (swoon) in Centennial Park and who could leave out the longest running Aussie drama of all time Neighbours! We breathed life into the word 'indie' when it comes to the music industry, which for those slow on the uptake means INDEPENDENT, usually self managed, self published – that’s right doing it all yourself! Names like Sia Furlo, the Hill Top Hoods and Flume are just some in this ever-growing category. Still on music, where else in the world does the National Broadcaster – yes good old Aunty – discover & break more local talent than X- Factor’s global reach? That’s right we do, Triple J & its sister station
  3. 3. Unearthed lead a cluttered pack of record execs to the young up and coming pots of gold at the end of the rainbow. Interesting model eh? I’m sure you’re thinking, Kate Edwards you crazy woman, what is your point? You’ve spoken about TV viewing, Game of Thrones, the Federal Government funding cuts, creative businesses, famous ad campaigns, Baz & Cath & their statues, some pretty well known actors, local film & TV production, Independent musicians and now Triple J……. My point: The creative industries and creative work in other industries have emerged as one of the Australia’s strongest performers, with employment growing by a steady 2.8 per cent a year from 2006 to 2011 – 40 per cent faster than in the economy as a whole – based on the latest Census data. The size of the total creative workforce in 2011 was 611,307 people, which represented 6.2% of total employment and over 120,000 creative businesses. In terms of the geographic concentration of creative workers, ABS Census data shows that the creative workforce (which includes employment in the creative industries as well as creatives embedded in other industries) is concentrated in New South Wales with almost 40% of the workforce, followed by Victoria with 28% and Queensland with 16%. Key highlights of the economic profile: • Direct employment growth for the creative industries is twice that of the NSW average • NSW is home to 40% of Australia’s creative industries workforce • Australian IVA (industry added value) growth of the creative industries is forecast to be faster than Australian GDP growth over the next five years
  4. 4. • Creative services exports worth $1.4 billion each year to the NSW economy Your take out: There is an amazing duplicity that exists between those who create regardless of an outcome or positive revenue benefit and those, like us in the media, marketing & advertising industry that create for a communication outcome. It is our role as leaders of this creative economy to sure up our creative futures and the futures of those following us by collaborating, co-producing and challenging a segregated creative model. If the creative industry keeps on increasing at the same rate (2.8) like it did for the past 6 years, in 15 years the number of people employed in Australia will reach the million mark(1 004 929). And if geographic proportion stays the same (40% in NSW), there will be 401 972 employees in the creative industry in NSW. So, it’s simple. The future of the creative economy is a collaborative economy – enriched with artistic integrity and refined commercial sensibilities. It will ensure a rich and diverse supply of talent, for which the demand is ever growing, for both you and your audience, for a long time to come. Thank you.