Skip to 0 minutes and 19 secondsSo the economic models have evolved differently according to the subsectors. It remains to be seen how the digital market is going to affect the publishing world or the cinema world. There are signs that the cinema world in particular has to change its practises with the emergence of players like Netflix or Amazon and Google investing into video production and film and movies. The sub-sector that probably will be the most affected by digital technology and the digital shift is the music industry with a tremendous impact with a loss of 50% of the turnover in space of two years. Now it is digital streaming that is gradually replacing CD sales.

Skip to 1 minute and 15 secondsThe industry is back on its feet, but after heavy concentration in the music sector and a different approach to address consumer behaviours.

New economic models in the creative industries

Watch this video, where Philip Kern, from KEA, answers the question: “How have the economic models of the creative industries evolved with the rise of the internet?”

What do you think?

Philip Kern stresses the difference among subsectors within the creative economy. In your opinion, which sectors have been the most affected by the digital revolution, Music? Film? Book?

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This video is from the free online course:

Culture in the Digital Age

European University Institute (EUI)