Page 12 - Lighting & Sound America (December 2019) Magazine

INDUSTRY NEWS

PLASA Reports 5% Growth

of UK Entertainment Technology

Industry in 2018/19

The UK entertainment industry has
grown by 5% in the past 12 months,
according to a new report released by
PLASA, which values the UK enter-
tainment technology industry at £1.36
billion in 2018/19.
The full report profiles the whole
industry over 50 pages, offering
detailed insight into market sectors,
investment in marketing and R&D,
industry workforce, trends over time,
and future predictions.
Each market sector receives an
investigation, including recent per-
formance, challenges, and future
potential. The sectors reporting the
largest growth include architectural,
broadcasting, and corporate events,
which are valued at £250m, £220m,
and £160m respectively.
However, among the robust results
from the past year, the report high-
lights considerable uncertainty about
the future, with only a third of busi-
nesses surveyed expecting the indus-
try 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,” says Peter
Heath, PLASA managing director. “It
provides vital insight for business
planning, budgeting, and benchmark-
ing performance; I encourage all busi-
nesses to download the full report.
“Whilst it’s great to see that the
industry has performed so well over
the last year,” he says, “we are clearly
looking towards a period of uncertain-
ty as Brexit looms over the sector.
PLASA will continue to support our
members to the fullest extent that we
can.” The 2019 Industry Research
Report is available to download free of
charge to PLASA members. For a
copy, visit www.plasa.org/industry-
research.

12 • December 2019 • Lighting& &Sound America