Page 34 - AC-3-2

Arts & Communication Business models transformation in the creative industries

The pandemic has heightened the need for the heritage These assumptions serve as the framework for the
and tourism industries to become more resilient, sustainable, present study, which seeks to investigate the cultural and
and entrepreneurial, for example, by implementing new creative sectors, notably the performing arts, to better
strategies, hybrid financial plans, and risk assessment and understand the changes in their economic models. To
management techniques. In many circumstances, novel achieve this research goal, the Ca’ Foscari University
economic and financial models might help in this area. of Venice analyzed and involved 12 theater and dance
Reduced public financing, globalization problems, digital organizations operating in Italy’s Veneto region in two
potential, and growing public empowerment have all separate projects, the CAD Project and the APPRODI
driven the CCIs to try new techniques and BMs. Today, Project, in 2021, both dedicated to the relaunch of the
particularly in the European context, there is an ongoing performing arts sector following the pandemic.
need for innovation in heritage valorization, particularly in
BM innovation, to develop a solid and transparent pipeline 3.2. Research methodology
of economically and socially sustainable investment The research methodology aimed to validate changes in
projects that demonstrate the sector’s attractiveness to the organizational structure and value chain of cultural
private investors. These unique ideas have the potential organizations, as well as to assess their influence on
to significantly boost cultural diversity, entrepreneurship, different BMs. Finally, an attempt was made to uncover
growth, employment, and social inclusion. features that were shared by all firms to determine which
components of the BMs had changed and transformed
The following are key considerations in light of the
pandemic: across all creative sectors examined. Obviously, not every
organization reacted the same way. Thus, mapping variety
(i) The transition from analog to digital: New was crucial in identifying sites of convergence in activities
intermediates (e.g., iTunes, Facebook) and business that contribute to the development of economic and
platforms (e.g., streaming). As a result, to effectively cultural value. The following methodologies were used to
capitalize on these prospects, the creative industries determine the BMs of the firms involved:
must develop both digital skills and the requisite (i) In-depth interviews: Diverse members of the
technological infrastructure 24
(ii) Digitization and shifts in consumer behavior: industry commented on important features of the
organizational structure to define its current status
Digitization has led to a shift in consumer behavior, (ii) Strengths, weaknesses, opportunities, and threats
with self-publishing and user-generated material (SWOT) analysis: Corporations recognized internal
becoming common (e.g., videos, blogs, forums, strengths and problems, as well as suggested solutions
podcasts, social media, photography, e-books, etc.). to address them
This digitalization has created chances to reshape the (iii) Analysis of firm statistics: This included examining
25
connection between producers and consumers in ways production, turnover, balance sheet, and social
that may have an influence on the status of creativity balance sheets. The research project lasted about a
and creative behavior in general (e.g., diluting the year and attempted to involve all of the company’s staff
quality criteria of cultural goods) (from top management to the artistic direction, actors,
(iii) Financial sustainability in cultural organizations: directors, and dancers).
Many governmental and non-profit organizations,
as well as private projects, strive for financial In-depth interviews (Table 1) were conducted to gain a
sustainability (e.g., through crowdsourcing activities deeper understanding of the companies in question. This
and online platforms). Many historical conservation technique was deemed the most effective for gathering
programs are quite expensive and need substantial Table 1. Semi‑structured interviews
financing. As a result, several museums have launched
internationalization methods (e.g., co-production, In‑depth interview Analyzed aspects
co-organization, exhibition export) to boost income Number of organizations: 12 1. Organization
by cutting production costs 2. Main stakeholders
(iv) Co-working spaces and innovation laboratories: 3. Year of Foundation
Examples include innovation laboratories, start-ups, 4. Legal nature
incubators, and event-specific temporary laboratories. 5. Main activities
6. A brief history of the organization
Innovation laboratories, for example, represent 7. Mission
grassroots practices in urban settings, as well as 8. Vision
architecture- and technology-based partnerships that 9. Identity aspects and artistic poetics
offer novel ways of co-creating creative material. 10. Innovation and research

Volume 3 Issue 2 (2025) 4 doi: 10.36922/ac.2974