A new £50m collaboration fund has been unveiled which will triple productivity growth rates in Wales' media landscape across the next five years. Media Cymru has been launched to develop a global hub for the TV, film and media industries in Cardiff and the surrounding capital region.
It aims to grow businesses and individuals in the sector over the next five years through a series of funding rounds, training and research, generating more than 2,000 additional employees and over £200m direct GVA.
Led by Cardiff University, the collaboration will receive £22m from public funder 海角视频 Research and Innovation's (海角视频RI) flagship Strength in Places Fund, £3m from Cardiff Capital Region, £2m from Welsh Government's Creative Wales, and £23m match funding from industry and university partners across the next five years.
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The Cardiff Capital Region - which covers 10 counties including Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire and Vale of Glamorgan - is already the third largest media clusters in the 海角视频 after London and Manchester, creating one in eight of all 海角视频 jobs in film and TV.
There are 1,318 firms currently active in the audiovisual media sector in the region, generating an annual turnover of £545 million and employing more than 10,000 people.
However, further growth of the industry could lead to greater economic return and opportunity for people in the region.
"Cardiff and the surrounding capital region has already situated itself as a major player in the media industry. The Media Cymru funding allows us to be even more ambitious – to make Wales a global leader in media innovation – with a focus on global, green and fair economic growth," said director of Media Cymru, Professor Justin Lewis.
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"We are ambitious - our aim is to triple productivity growth rates in the media sector in the Cardiff Capital Region long term which, if successful, would lead to more than 2,000 additional employees and more than £200 million direct GVA."
A number of initiatives make up the new collaboration fund.
Innovation Pipeline, which provides funding and training opportunities for businesses and creatives, aims to increase research, development and innovation (RD&I) offering £10,000 for freelancers and SMEs to develop ideas for new products and services and up to £50,000 for businesses to develop RD&I projects that demonstrate clear potential for a tangible product or service.
Up to £200,000 will be available for projects of significant scale that have the potential to be transformational for the sector with international impact. Businesses will also be given the opportunity to partner with organisations across the sector on joint funding calls to address identified RD&I challenges or emerging commercial opportunities.
A BBC Content Innovation Fund will offer three to five Wales-based firms receive up to £50,000 each to develop an idea for factual or sport aimed for broadcast on BBC One Wales and iPlayer.
Green Cymru will see development agency Ffilm Cymru Wales use funding from Media Cymru to provide solutions to green challenges in the screen industry and support the scale-up of sustainable products, services and processes.
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A Breaking Socioeconomic Barriers project will see production firms Boom Cymru and Rondo collaborate and use funding from Media Cymru to research the barriers to socioeconomic diversity in the film and TV sector. They will prepare a report into the lack of diversity and engage directly with schools, colleges and underrepresented communities.
In addition, Media Cymru is carrying out a Wales Screen Workforce Survey. The first nationwide survey to assess the skills and training needs, attitudes and experience of people working across film and TV, games, animation, VFX, and post-production to build a broad and inclusive talent base.
And an Innovation Spaces initiative will look to connect the region's diverse community of businesses and freelancers using in-person and digital workshops to provide access to new technology opportunities, support, and share the latest knowledge and ideas.
Secretary of State for Wales Robert Buckland said: "Wales has a thriving media industry with the potential to grow into a leader not just in the 海角视频, but across the globe.
"Media Cymru will help ensure that Welsh media innovators have the resources to develop world class solutions to the issues of our day, as they drive forward ambitious projects that mark them out from the competition."
Dawn Bowden, the Welsh Government’s Deputy Minister for Arts and Sport, said: “The Welsh Government is delighted to be supporting this collaboration to help build on the success our media producers are currently enjoying in Wales.
"Giving our brightest talent the opportunity to develop and showcase their ability to innovate will not only enhance the reputation of the industry across the globe, but lead to greater returns for both our economy and our society which will ultimately benefit the region as a whole."
Council leader Huw Thomas said: “This is a golden era for film making and media production in Cardiff, delivering significant growth in the Creative Industries. Our ambition is for Cardiff, the Capital Region, and Wales, to be a global hub for media innovation and production, leading one the most successful sectors in the 海角视频.
"The Media Cymru partnership is central to achieving that and will help attract inward investment, grow our indigenous creative businesses sustainably and inclusively, create jobs, and nurture the diverse talent pipeline that will establish Cardiff and the wider region as one of the world’s most progressive and sustainable media clusters.”
Anthony Hunt chair of Cardiff Capital Region City Deal, said: “We are hugely ambitious about building on our media sector in Wales. We’ve seen the difference that’s been made in Manchester, and the Cardiff region has all the talent and skills needed to make a first class centre for media businesses.
“Media Cymru will also play a significant role shaping our region’s economic recovery following the Covid pandemic, helping everyone share in future prosperity, from Merthyr to Monmouthshire, Bridgend to Blaenau Gwent.”
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