Creative Industry: Fact or Fiction?

In the late 1990's there was a growing realisation that for many 'post industrial' economies and especially the UK, not only had they become dominated by traditional 'service' businesses (banking, finance, retail, logistics, law and other professional service firms) but that the most rapidly growing group of these 'knowledge based' firms were in an ill defined sector that depended on creativity for their source of competitive advantage such as fashion, design, architecture, advertising and PR, books, music, film and TV production, theatre, online communities, video games, museum and gallery exhibitions and other print and screen based media.

Many of these firms were young and rapidly growing, there were some large scale businesses in media and advertising but the majority stayed small and had a high attrition rate. In the UK they represented about 8% of GDP but crucially were growing at twice the rate of the economy as a whole. From a policy point of view they attracted a lot of interest - was this the holy grail of the future 'knowledge economy'?

Now nearly 10 years on from the UK's declaration of 'cool Britannia' under Tony Blair's New Labour project, it is worth reflecting on what we really know about the 'Creative Industries and Creative Business'. Are they fact or fiction? and what might be the implications for education in the arts and management.

As the University continues to maintain and develop its profile as a global leader in arts research, a series of Professorial Platform lectures was launched in 2008.

The Platforms are an opportunity for University colleagues and associates, as well as invited members of the public, to learn more about the research undertaken in the University. The Platforms enable Professors to highlight their field of interest and the University, in turn, to recognise and commemorate their successes to date.

Research Profile

John Bates is Adjunct Professor of Entrepreneurship at London Business School, a Visiting Professor at University of the Arts London and a Director of Sussex Place Ventures Ltd. Over the last 10 years he has been leading the School's practical initiatives in developing entrepreneurial firms including €20m of 'pre seed' and 'seed' venture capital funds and various networks of entrepreneurs, advisors and private investors associated with the London Business School that have supported over 50 alumni founded companies.

John has been teaching, case writing and developing courses at London Business School since 1985, while also starting up and running two hi-tech businesses, a consultancy and a venture capital company. His current teaching portfolio includes two MBA electives, New Venture Development and New Creative Ventures. He is a Director of the Centre for Creative Business (a joint venture between London Business School and University of the Arts London) and course Director of the 'Building Creative Business' programme aimed at founders of SME businesses in the creative sector who have the desire to grow.

• http://issuu.com/ualresearch/docs/johnba...
• https://www.london.edu/faculty-and-resea...