This week Arts Council England published a new report on arts and culture's contribution to the economy.
Commissioned from the Centre for Economic and Business Research, the report, Contribution of the arts and culture industry to the UK economy, reveals the sector contributes £10.8 billion to the UK economy.
This figure is more than double that of the Premier League, putting the industry roughly equal to principle cities such as Sheffield and ahead of the agriculture industry at £10.09 billion.
The report also shows that between 2009 and 2016 productivity in the industry was greater than that of the economy as a whole, that it contributed £2.8 billion in taxation and generated a further £23 billion a year and 363,700 jobs through supply chains and spending by employees.
Sir Nicholas Serota, chair of Arts Council England, said, “latest figures show arts and culture is a thriving industry delivering huge benefits for our economy. Public investment in the arts is fuelling local regeneration across the country, pushing skills and talent to the commercial sector, and driving the world-class reputation of our creative industries.”
The report also revealed non-financial "spillover benefits" including in regeneration, training and support for local artists and businesses.