The creative economy

The following post from ARTSblog brings to light the emerging discourse on the Creative Economy. In an insulated fashion, the terminology and concept seem to be gaining credence at a national level. However, as the author notes -- how to take it from concept to a tactical plan with a positive impact for the arts and artists will be a long and winding road. I appreciate the fact that all aspects of the creative economy seem to be included -- as the landscape of the creative economy has a local, national and international aspect that affects almost every industry from local government to international banking conglomerates. The complexity will, if not parsed to specific tactics and development plans, keep the discourse at a conceptual level. It is great that it is an easily demonstratable concept -- however, this economy is not easily manipulated via a change in bank rates or infusing money into the system. The problem is its strength -- the human quotient, the cost disease of the arts, and the local (versus global) engine that drives it. While this could be a strength -- the economic and political engines that currently exist will be unable to provide the synergy that the creative economy needs to truly transform the existing systems.

The Creative Economy Has Our Attention. Now It Needs a United Voice. (from Arts Watch)

How Do You Become a Cultural Phenomenon? (from Arts Watch)

She is simplifying conceptually, but it seems relevant. I need to do a blow by blow with the Tipping Point . . .

How Do You Become a Cultural Phenomenon? (from Arts Watch)

New Models of Business on Broadway (Maybe)

So, as crowd-sourcing has become the rage, an impulse for crowd-investing in a Broadway show is emerging:
http://online.wsj.com/article/SB10001424052748703743504575494002194344786.html?mod=WSJ_article_RecentColumns_NYCulture

The timing seems perfect -- everyone wants to have a say in the world of entertainment.  The question is do they have the money to match the will and is the idea sustainable.  It is NOT far afield from the attempts to produce Broadway shows with an IPO -- something no longer practiced as the risk was too high and the administration too costly.  The internet and emerging technologies might mitigate the latter, but the former is still daunting. 

Interestingly, the idea of funding from the people was created 2 years ago in a non-profit setting to enlist individual's donation and input on new play development.  It will be interesting to the impact and sustainability of each.

Groupon tickets work for Joffrey

Joffrey%20Ballet's%20win-win%20with%20Groupon%20is%20a%20lesson%20for%20Chicago's%20cultural%20institutions

While I have yet to figure out how organizations make this work financially, it is the wave of the short-term future. BUT, as the price has to be 50% of the regular price AND groupon takes 50% of that, you are essentially selling your wares for 25%. I understand that 25% of X is larger than zero -- but what if you ARE a theatre with an 80-90% sales ratio? Is it worth taking the loss to get newbies in your doors? Especially if your usual price is $22 . . . .

An interesting conundrum.