Posted on 01 JUNE 2018 BY JADA SCOTT
#1 Lack of Jobs
Although there are creative agencies popping up all across the UK, many of them are too small to operate alone and partner with companies worldwide to expand their business. The creatives are then contracted to travel to different parts of the world for their work. Brexit could potentially impede the fluidity of Britons working within the EU making international work relationships a lot harder. The UK also account for 21% of creative jobs in the EU, this means that thousands of people could lose their jobs as a result of Brexit. This means that creative industries may stop employing UK workers.
Many of the projects that occur in the media and art industries are only possible through funding. Bodies like the Creative Europe Desk invest money to the creative industries of several countries enabling them to produce work. With Britain leaving the EU, this type of funding will no longer be available to UK creatives rendering a lot of their projects unachievable. As the funding also raises awareness for and promotes the work being funded, a British creative would find it a lot harder to gain attention and attract an audience for their project.
#3 Additional costs
When it comes to the film industry, UK films have definitely taken over the scene recently and a lot of the locations used have been in Europe. Brexit will have a negative impact of this situation as an additional tax will be charged to all cast, crew and equipment being imported into Europe from Britain.
#4 Promotions and distributions
Post-Brexit, the UK is likely too see a significant decrease in support of UK film distribution across the EU. This in turn would lead to a large fluctuation in sales of British movies abroad. There is also expected to be a lack of support of europeans film festivals and film premieres for UK films. Cinema prices may rise as smaller independent cinemas would have to pay a higher fee to broadcast international films. The UK film industry will ultimately suffer because of a decline in advertising, awareness and sales.
As Brexit continues to be rolled out, the value of the British Pound continues to change. The decline of the pound could affect the creative industry by causing shortfalls in productions. In every sector of the creative industry, budgeting is important as it enables the company to manage their money appropriately and set aside a certain amount of each production. If the value of the pound falls significantly (as it is expected to do throughout the Brexit process), companies will have to invest more money which could impact them massively if the production/work doesn't take off
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