In its submission ahead of the Budget on 26th November, Comic Book UK has called on the Chancellor to back the UK’s comic book publishers and push for growth in the sector.
Based on insights gathered from Comic Book UK members, the submission outlines how the government can help achieve the aims of its Industrial Strategy Creative Industries Sector Plan by exploring tax incentives for the publishing industry, putting in place business support to help the comic industry commercialise and innovate, and by targeting access to new markets and trade shows.
The sales of comics in the UK have grown rapidly in recent years, reaching historic highs including breaking through the £50m barrier in 2022.
But much of this demand is currently serviced by imported or translated comics and graphic novels, including US-produced comics from publishers like Marvel and DC, and an explosion of Japanese-originated Manga which has gained popularity following the success of streaming adaptations of the content.
Comic Book UK is campaigning for tax incentives in the publishing industry to match those in film, high-end TV, video games and animation, where estimated benefits range from £1.72 per £1 spent by the Treasury in video games, to a massive £8.30 per £1 spent in film.
There is also a need for better business support and advice tailored to the comic book sector, including access to specialist legal, intellectual property and tax advice, as well as guidance on how initiatives like the Seed Enterprise Investment Scheme and Enterprise Investment Scheme can be applied to comics and graphic novel creation.
Comics are a global industry and there are huge opportunities in markets all around the world. Comic Book UK has also called on the Treasury to back Department for Business and Trade initiatives to help publishers access markets through advice, connections and funding to take part in trade shows and trade missions in key territories.
Backing the UK’s comic industry in these ways would encourage new entrants to the publishing market, help launch new publications and create and safeguard salaried and freelance careers in the sector.
You can read Comic Book UK’s full briefing for the Treasury here.
