Sky contributed £2.2 billion (€2.8 billion) to UK GDP last year, which it claims to be equivalent to around 40% of the contribution made by the country’s entire TV and radio creative sector.
A new report by consultancy firm Oxford Economics shows that Sky contributed more than £5 billion to the UK economy in 2011, having generated sales of £6.4 billion. For every £1 billion Sky contributes directly to GDP, it generates another £1.4 billion in the rest of the economy through its purchase of goods and services, and via its staff spending their wags.
The report also found that Sky employed 22,800 people in the UK. That number includes 2,600 people employed in producing and commissioning content. Sky said it planned to increase its investment in original British content to £600 million by 2014.
Jeremy Darroch, Sky’s CEO, said: “We have grown rapidly since our business was established just over 20 years ago. Along the way we have taken risks, invested billions of pounds and been a driving force for innovation and change in our sector. As a result we have transformed UK consumers’ experience of television and home communications, while generating significant returns for our shareholders and contributing positively to the UK economy as a whole.”
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