Scots newspapers ‘worth £1bn to economy’

The Scottish newspaper industry is worth up to £1 billion a year to the Scottish economy, according to an economic impact survey.

Carried out by Edinburgh-based Optimal Economics on behalf of the Scottish Newspaper Society, the study shows that the annual “gross value added” generated directly by the industry is £146 million, rising to £214 when indirect sources are included.

“However, analysis of the most up-to-date UK data shows that when the economic activity generated by the advertising and marketing carried by Scottish newsbrands is examined, the industry is responsible for generating some £775 million in the wider Scottish economy,” said the Scottish Newspaper Society.

Peter Wood, director of Optimal Economics, said: “The Scottish newspaper industry is an important economic sector in its own right, but it has a wider strategic importance beyond its size alone and is an essential platform for discussion, promotion and development of creative activity.”

Key findings of the report were:

  • The industry employs over 3,000 people, many highly qualified and creative
  • It supports over 4,300 Scottish jobs and creates £214 million of annual income
  • Sales generated by newspaper advertising create £300 million a year in Scotland
  • Scottish newspaper advertising creates almost £800 million of annual benefit to Scotland through impacts on competition and innovation
  • The industry is a core element of Scotland’s Digital economy with 25% of industry staff involved with digital production
  • It is a key part of the publishing sector, the second largest part of Scotland’s creative economy
  • The total contribution of the Scottish newspaper industry to the Scottish economy is around £1 billion per annum

Read the full report:

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.