Culture and Commerce: The Value of Entrepreneurship in Creative Industries
Contents
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Producers: Bridging Two Worlds Producers: Bridging Two Worlds
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Types of Producers Types of Producers
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Producer Firms and Creator Firms Producer Firms and Creator Firms
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Supply-Chain Firms Supply-Chain Firms
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Agents and Talent Scouts Agents and Talent Scouts
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The Business Implications of Bridging Two Worlds The Business Implications of Bridging Two Worlds
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The Challenge of Market-Making The Challenge of Market-Making
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The Challenge of Building Trust Between Managers and Creators The Challenge of Building Trust Between Managers and Creators
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The Challenge of Building and Maintaining a Reputation The Challenge of Building and Maintaining a Reputation
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Entrepreneurship in the Producer Role Entrepreneurship in the Producer Role
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New Ventures in Established Categories New Ventures in Established Categories
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New Creator Firms New Creator Firms
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New Producer Firms New Producer Firms
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Pioneer Entrepreneurship in the Producer Role Pioneer Entrepreneurship in the Producer Role
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Kinds of Radical Innovations That Need Pioneer Entrepreneurship Kinds of Radical Innovations That Need Pioneer Entrepreneurship
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Summing Up and Looking Ahead Summing Up and Looking Ahead
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6 Creators and Producers: Making Art, Making Markets
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Published:20 June 2017
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Abstract
Producers are firms that have a direct economic stake in the value of the goods they bring to market. These are distinct from the individuals who create the good: creators, such as artists, musicians, and writers. Creators rarely take their creations directly to market; in most cases, a third-party firm—a producer firm—vets and collates many different creations to present to the consumer. Elsewhere, fashion designers and chefs often start their own firms—creator firms—that sell only their own creations. All producers must bridge the worlds of art and business, which entails three challenges: market making, building and maintaining trust between managers and creators, and reputation building. Creator firms may be more likely to introduce content innovations, and producer firms may introduce delivery innovations, while some innovations may combine both. Inducing consumption of these innovations requires changing beliefs, making it the most challenging kind of pioneer entrepreneurship.
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