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