The European Commission presented its Creative Europe programme which intends to boost cultural and creative industries in the EU. TV, culture, music, performing arts, heritage and related areas would benefit from increased EU support.

With a proposed budget of €1.8 billion for the period 2014-2020, the Creative Europe programme would be a much-needed boost for the cultural and creative industries. The new programme would allocate more than €900 million in support of the cinema and audiovisual sector (area covered by current MEDIA programme) and almost € 500 million for culture. The Commission is also proposing to allocate more than €210 million for a new financial guarantee facility, which would enable small operators to access up to €1 billion in bank loans, as well as around €60 million in support of policy cooperation and fostering innovative approaches to audience building and new business models.

The Commission's Creative Europe proposal would enable 300,000 artists and cultural professionals and their work to receive funding to reach new audiences beyond their home countries; more than 1000 European films would receive distribution support, enabling them to be seen by audiences throughout Europe and the world; at least 2,500 European cinemas would receive funding enabling them to ensure that at least 50% of the films they screen are European; more than 5,500 books and other literary works would receive support for translation, allowing readers to enjoy them in their mother tongue; thousands of cultural organisations and professionals would benefit from training to gain new skills and to strengthen their capacity to work internationally; and at least 100 million people would be reached through the projects financed by the programme.

Creative Europe proposal represents a 37% increase on current spending levels. The increase is due because the European cultural and creative sectors represent around 4.5% of European GDP and account for some 3.8% of the EU workforce (8.5 million people). According to the Commission, the EU support will help them make the most of the opportunities created by globalisation and the digital shift. It will also enable them to overcome challenges such as market fragmentation and difficulties in accessing financing, as well as contributing to better policy-making by making it easier to share know-how and experience.