THE Roundhouse in Camden has released new figures that highlight the huge Social Return on Investment (SROI) of their broadcast and digital programmes (BDP) for young people.
The research, carried out by Social Change UK, found these projects to help young people gain transferable skills, such as public speaking and self-belief, as well as technical skills and industry connections that go on to support them in the world of work.
The outcomes show the huge social and economic impact creativity can have on the lives of young people. For every £1 invested in film and digital projects by the venue, £42.25 of value is created, which equates to £2,876,168 each year. For audio projects, for every £1 invested, £21.88 of social value is created, generating £889,648.
The Roundhouse spends around £85,000 each year on its BDP projects which cover a range of opportunities, from workshops and masterclasses to intensive longer-term projects. They cover a range of disciplines, including film, TV, live streaming and a host of digital projects. Alongside this, their in-house audio platform, Transmission Roundhouse, creates award-winning podcasts.
The Roundhouse also provides music and performance opportunities for 11-30-year-olds, as well as a programme for freelancers and entrepreneurs, all underpinned by a highly experienced youth work team. The youth programme costs around £3.3m to deliver each year, with the Roundhouse currently working with over 8,000 young people a year – a number they want to increase to 15,000.
Roundhouse Head of Broadcast and Digital Derek Richards reflects on the implications of such significant outcomes and learnings for young people:
“These incredibly high values show the phenomenal impact creative projects can have on young people – from self-belief to securing work. We shouldn’t underestimate the importance of young people having access to creative opportunities at every stage of their development. When everyone has equitable access, we can raise the creative potential of the whole of the UK and generate millions of pounds worth of social value.”
Young people cited under-awareness of being freelance and stress from managing workloads or deadlines as areas to improve. The Roundhouse has since invested heavily in its in-house youth work team, supporting young people holistically. Additionally in June 2023, Roundhouse Works opened to support freelancers and entrepreneurs with a workspace, alongside facilities and opportunities for young people to learn about other aspects of roles in the creative industry.
SROI is a methodology for measuring and accounting for changes that are relevant to those impacted and resulting from given activities. Through consultation with stakeholders via a range of surveys and interviews, the approach involves generating financial proxies for the social value created or destroyed.
You can see the report and findings here.