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PLASA reports five percent industry growth

The UK entertainment technology industry has grown by five percent in the past 12 months, according to new data from PLASA.

The report values the industry at £1.36bn in 2018/19. Sectors reporting the largest growth include architectural, broadcasting and corporate events sectors, which are valued at £250m, £220m and £160m respectively.

The report – available to download via the PLASA website – profiles the entire industry over 50 pages with detailed insight into market sectors, investment in marketing and R&D, industry workforce, trends over time and future predictions.

It does, however, highlight considerable uncertainty about the future, with only a third of businesses surveyed expecting the industry to grow in the next year. The main concern is how and when the UK will exit the European Union.

“We are delighted to offer this important resource,” said PLASA managing director Peter Heath. “It provides vital insight for business planning, budgeting and benchmarking performance – I encourage all businesses to download the full report.”

“Whilst it’s great to see that the industry has performed so well over the last year, we are clearly looking towards a period of uncertainty as Brexit looms over the sector. PLASA will continue to support our members to the fullest extent that we can.”