Creative Industries The Palgrave Encyclopedia of Strategic Management

Through the exploitation of individual CREATIVITY, skill and talent, creative industries generate a potential for wealth and job creation by the means of the development and exploitation of INTELLECTUAL PROPERTY rights. These activities can be divided into two main components: the creative production and the complementary resources and activities to bring the outcome of the creative efforts to the markets. Based on a value chain perspective these industries are defined in four different phases: origination, production, distribution and consumption of the creative outcome. While the origination and production phases are characterized by a limited potential for gaining economies of scale and thus by small operators, the distribution and consumption ones can be dominated by large firms.