London's Media Industry
London boasts one of the largest media industries in the whole of Europe, and in fact all of the UK's major media organisations are based in the city of London. Around a fifth of all the people who work in London are involved in the media industry in one way or another, and this vibrant industry continues to go from strength to strength each and every year.
The BBC is the world's largest broadcaster and has its headquarters in London, while other major networks that are also based in London include CNN International, ITV, BskyB, Channel 4 and Five. Most of the television studios in the United Kingdom are now located in the city of London, while other television studios are predicted to make the move to England's capital in the next few years.
London's media industry also includes a whole host of radio stations and newspapers. There are two main daily newspapers that are circulated free of charge exclusively in London, namely the Metro and the Evening Standard. The Evening Standard has been published in London for more than 182 years and was recently transformed into a free publication. There is also a wide range of national newspapers that have their headquarters in London, such as The Sun, The Guardian, The Daily Telegraph and the Mirror. Many of these newspapers are distributed internationally and can also be viewed online. Most of the companies associated with the media Industry in London tend to be located in the Soho area, although media related companies can be found scattered all over the city.
According to a British Film Industry (BFI) report, in 2014 investment in the UK film industry rose to £1.075 billion. Around three quarters of film production in the UK is concentrated in and around the city of London. Much of this industry is run by Film London, which has its headquarters in the capital.
Film London is responsible for the successful completion of many productions, and they have established a micro-budget film scheme known as Microwave. More than £350,000 has been invested by Microwave to date, which is predicted to provide a real boost to London's Media Industry.
Also known as the BBC, the British Broadcasting Corporation is a publicly funded media service comprising of eight UK television channels as well as 10 UK radio stations and a whole host of other regional and international broadcasting services. British Broadcasting Corporation is entirely funded by television license fees, which according to recent figures totalled more than £3.7 billion in 2013 alone. The BBC uses the money that it receives from the television license fee to fund programmes, pay salaries and run all over aspects of the company, which means that they are able to be entirely independent and do not rely on revenue from advertising unlike many other media corporations.
Creative Media Industries is one of the largest collective media industries in the whole of London and is comprised of a total of 4,100 companies. Creative Media Industries employs around just under 142,000 people in and around London, and around a fifth of all new jobs that appear in London are part of Creative Industries. Interestingly, an average of just over a quarter of the people who work at Creative Media Industries are employed in a freelance capacity, although this figure goes up to more than 90 per cent who people who work in the film production division.