The Philippines is capturing only a fraction of the value of its creative economy despite the sector already accounting for about 7.6 percent of gross domestic product, according to Isla Lipana & Co./PwC Philippines.
Mary Jade Roxas-Divinagracia, Deals and Corporate Finance managing partner at PwC Philippines, said gaps in financing, intellectual property ownership, commercialization, and market access are limiting the sector’s ability to turn creative talent into scalable businesses and recurring export revenues.
“For the Philippines alone, it represents about 7.6 percent of our GDP. So the question is how much more value can the creative economy actually generate?” Roxas-Divinagracia said.
She said the Philippines and Indonesia rank among ASEAN economies with relatively large creative-economy contributions, while Thailand has the highest share at about 8 percent.
A PwC ASEAN study estimated that creative industries across selected Southeast Asian economies generate roughly USD300 billion in aggregate value and support about 30 million creative professionals. PwC cautioned, however, that differences in definitions and statistical systems make direct country comparisons difficult.
The Philippines has developed strong capabilities in animation, game development, film, music, and performing arts. But animation, for example, has largely been built around outsourced production for global studios, limiting opportunities to own intellectual property and capture value beyond production fees.
Roxas-Divinagracia said stronger regional cooperation could help address this gap through financing, intellectual property and commercialization, talent development, digital transformation, and regional market access.
The study found 67 percent of respondents saw digital transformation as the leading growth opportunity, while 55 percent identified regional financing as the top priority for ASEAN cooperation.
The challenge for the Philippines is increasingly about moving from creative labor to creative ownership, where local talent can build brands, intellectual property, and businesses that earn beyond the initial project.
