I was going to polish my notes from the #Pictor meeting last week, which has published its own precis of events, but the Wall Street Journal and the BBC are both carrying a story sourced from Boston Consulting that the UK’s internet industry is now over 8% of GDP, and grew at over 10% during the period of the study. This is while the UK GDP grew by 0.7% over the last year and there remain fears of a return to recession.
James Firth, at his blog, “Slightly Right of Centre”, tries to evaluate the contribution of the Internet industry vs. the “creative” industry and makes the point that the Digital Economy Act was passed to help and support a very important wealth creator in our economy. It’s a shame, well, more truthfully a point of design, that it almost certainly discriminates against an even more important one. The figure bandied about by BIS at the time the time the act was passed was that creative industries were about 7% of GDP; the internet has overtaken it.
No matter how one does the sums, maybe its time to back a winner!