Creative Industries: Contracts Between Art and Commerce
This book explores the organization of creative industries, including the visual and performing arts, movies, theater, sound recordings, and book publishing. In each, artistic inputs are combined with other, "humdrum" inputs. But the deals that bring these inputs together are inherently problematic: artists have strong views; the muse whispers erratically; and consumer approval remains highly uncertain until all costs have been incurred.
To assemble, distribute, and store creative products, business firms are organized, some employing creative personnel on long-term contracts, others dealing with them as outside contractors; agents emerge as intermediaries, negotiating contracts and matching creative talents with employers. Firms in creative industries are either small-scale pickers that concentrate on the selection and development of new creative talents or large-scale promoters that undertake the packaging and widespread distribution of established creative goods. In some activities, such as the performing arts, creative ventures facing high fixed costs turn to nonprofit firms.
To explain the logic of these arrangements, the author draws on the analytical resources of industrial economics and the theory of contracts. He addresses the winner-take-all character of many creative activities that brings wealth and renown to some artists while dooming others to frustration; why the "option" form of contract is so prevalent; and why even savvy producers get sucked into making "ten-ton turkeys," such as Heaven's Gate. However different their superficial organization and aesthetic properties, whether high or low in cultural ranking, creative industries share the same underlying organizational logic.
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LibraryThing ReviewUser Review - LibraryThing
For anyone interested in the economic aspect of the art and entertainment industries, this book is an absolute must-read. The author combines a seasoned economic approach with an in-depth knowledge of these industries. The core approach of this book is the toolbox of industrial organization. The authors starts by asking what form of contractual (including implicit contracts) exist between players, and show hos these forms reflect the specificities of the sector and shape the incentives of artists, producers and other professionals. Doing so, it covers an impressive amount of ground, to the point it is almost comprehensive with respect to the US arts and entertainment sector (non-US situations my differ, especially in terms of regulation, by the same insights generally apply). Although the reasoning is sound and up-to-date with research, the book is fully non-technical, which makes it a good introduction to the domain for the economist and non-economist alike. The fact that only a chapter on the digitalization of contents could be added to it in 2012 in order to keep it abreast with current issues is a testimony of the quality of this work.
Review: Creative Industries: Contracts between Art and CommerceUser Review - Allen - Goodreads
i've been in the entertainment industry for 12 years and this is one of two books that I refer to constantly. it is the most lucid and objective description of the creative process with respect to industry. the other book is hollywood economics by arthur de vany. Read full review