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Arts & Communication Business models transformation in the creative industries

here is that sustainable BMs are inherent in the creative themselves. As we have seen, the creative industries
industries, which are established on a strong social and promote new methods of working, engaging audiences,
cultural connotation from the start and, by definition, and collaborating. They are also key sources of inspiration
manage to propagate their artistic values in the regions in for other projects due to technical crossovers and business-
which they operate. to-business relationships (e.g., gamification of learning
processes). Because innovation is often connected with
5. Discussion technology, the CCIs are usually disregarded or omitted
According to recent research, one of the most notable from programs aimed at promoting innovation in a limited
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short-term repercussions of COVID-19 was the inability sense.
of creative enterprises to attract audiences and visitors, According to recent research on sustainable CCI BMs
both of which are critical components of their economic in the post-pandemic era, the potential key elements
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models. It was also suggested that huge segments of the for a CCI BM proposed by previous studies—namely,
industry would be unable to return to “business as usual” cultural and creative value, market estimation, commercial
until the gap with the audience—who had ceased attending advantage achievement, and marketing leverage—are
movies and theaters since the outbreak—was fully closed. hardly consistent when compared to the distinguishing
Furthermore, the high fixed costs of rent have become characteristics of CCIs. These characteristics include a
unsustainable for most organizations, which can only pay high level of risk connected with commercial operations,
them when attendance exceeds 60% of the venue’s entire an emphasis on the balance of creativity and commerce,
capacity. In some countries, such as the United Kingdom, high production costs against cheap reproduction costs,
cuts to theater and performing arts subsidies meant that and the semi-public nature of products, which needs the
even those who had managed to optimize their BMs would creation of scarcity. The intellectual property of the goods
be impacted by the numerous lockdowns. The severity or services developed by these companies, in particular,
of the crisis, along with the uncertainty surrounding can be attributed to the individual or group responsible
containment measures and social distance, meant that for their creation; most of these products or services are
many cultural groups reliant on active public engagement difficult to duplicate; and the production of these goods
faced existential issues without substantial government or services is a means of conveying figurative messages to
assistance. Many creative sectors invested in new consumers, which undoubtedly requires some degree of
technology, assuming that streaming would be the future creativity.
of the performing arts, yet many ended up wasting money.
There are eight main considerations when building a
Simultaneously, new digital technologies (even the business strategy for CCIs: (i) Cultural value commitment:
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most experimental ones) have proven to be beneficial a commitment to cultural values; (ii) Added creativity
resources in many circumstances, allowing creative value: an explanation of added creativity values for CCI
industries to turn their websites into digital publishing products; (iii) Marketplace conjecture: marketplace
platforms with tailored content bundles, such as those for conjecture for CCI products and services; (iv) Direct and
members and high-level sponsors. Many of them began to indirect trading rivalry: analyses of direct and indirect
consider new ways to reach out to visitors, tourists, and trading rivalry; (v) Industrial profits: tactics for acquiring
school groups that did not require their physical presence. industrial profits; and (vi) Marketing strategies: marketing
Risks have been highlighted for the CCIs due to the for CCI products and services. However, this idea on the
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distinctive structure of their BMs. For example, BMs span BM for CCIs lacks consideration of sustainability. We
from public and non-profit institutions (e.g., museums, may try to connect these past studies by transferring and
libraries, theater companies) to big for-profit operators redefining the important components of the BM Canvas
(e.g., Netflix, Spotify). Economic development or profit is
not usually the primary aim for a major section of creative developed in this study, as shown in Table 18.
professionals or micro-businesses in the industry, but When attempting to design a BM for the creative
rather a means to remain in the creative business, which industries, two additional areas may be defined to
is their core purpose. Many CCIs rely on intangible assets, complement the eight already delineated: one for
such as highly specialized skills and competencies, social communication strategies and one for the social, cultural,
networks, or reputation and credit in certain creative and environmental effects unique to firms functioning
communities. Obtaining financial assistance from credit in the CCI sector. These factors, aided by the COVID-19
institutions might be difficult due to the difficulty of pandemic, have become increasingly important not only
pricing intangible assets. Similarly, many CCIs struggle to for an organization’s economic and financial development
acquire funding for innovation, despite being innovators but also for the redefinition of its identity characteristics,

Volume 3 Issue 2 (2025) 14 doi: 10.36922/ac.2974