Creative industry, a huge market
FILIPINOS are being urged to tap into their creative side and take advantage of the creative industry as it is a multibillion pesos industry.
"Globally, the creative industry is a P100 trillion market that employs around 30 million people. In the Philippines it is a P650 billion industry and employs six million," Jaime Noel J. Santos, president of Thames International Business School, said during a press conference for the Creative Innovator Programme at the Marco Polo Hotel Davao yesterday.
He said considering how Filipino creative proffesionals have contributed to the global creative industry, there is a huge potential for local talents to tap into this industry.
The creative industry covers television, visual arts, newspapers and magazines, advertising, architecture, books, performing arts, gaming, movies, music, and radio.
In the global market, television, visual arts, and the newspaper and magazines sectors are the three largest sectors of the industry based on the 2013 data of the Ernst & Young. Television had a revenue of US$477 billion; visual arts with $391 billion; and the newspaper and magazines with $354 billion.
Santos the country, for a long time, had an economy that was dependent on the business process outsourcing industry.
"However, it is in danger due to artificial intelligence. But if there is one thing that artificial intelligence can't do, it is creatives," he said.
Santos said it is now the time for the country to build its creative industry to play a major in its economy.
Hence, the British Council and the Department of Trade and Industry in partnership with Apl de Ap Foundation and the Thames International Business School have teamed up for the Creative Innovators Programme.
Through the program, scholarships for both undergraduates and craetive professionals will be given.
"The Filipino are naturally creative and super innovative. It only makes sense that we embrace the creative industries. These raw potentials can be maximized by training and education supported by creative hubs and investments," Apl de Ap said in a statement.
He added that through the scholarships, they hope to transform artists into creative entrepreneurs.
"We hope to be the catalyst for the creative industry here," Santos said, adding that they will be educating creative professionals on entrepreneurship through the program.