Business Model Innovation in Creative and Cultural Industries

Book excerpt: Business model innovation occurs when an organization discovers a new way of creating revenues or profits via its products or services. This book examines the concept as it applies across the creative and cultural industries in practice. This book examines market, social and political environments which impact creative and cultural organizations' business models, such as sustainability, new forms of competition, digitalization and data management, emerging technologies like AI, and shifting social trends and lifestyles. This book not only analyses these influences but also presents best practices, key success factors, and compelling case studies. Employing a case study format, a range of creative or cultural sectors are analysed, including fashion, architecture and gaming. The result is a book which delivers value for researchers, advanced students, and reflective practitioners involved in the creative economy around the world.