The development of digital technology and changes of entrepreneurship in the creative industry

No Thumbnail Available
Journal Title
Journal ISSN
Volume Title
School of Business | Master's thesis
Date
2021
Major/Subject
Mcode
Degree programme
Entrepreneurship and Innovation Management
Language
en
Pages
60+3
Series
Abstract
The creative industry is a fast-growing industry accounting for more than 10% of global GDP. The creative industry can be defined as all industries that are based on human creativity that generate intellectual property. And the development of digital technology has been a huge impact on this creative industry. Because technological factors have been playing a huge role in the formation and development of the creative industry, advances in digital technologies have been making not only quality improvements in production and distribution but also fundamental changes to its industrial structure. Furthermore, these fundamental structural changes have had a significant impact on entrepreneurs and their entrepreneurship in this industry. Therefore, this thesis shows how the development of digital technology has brought about fundamental structural changes in the creative industry, and how those structural changes affected entrepreneurs and entrepreneurship in the creative industry. To explore this question, I conducted long interviews, lasting an hour to an hour and a half, with eight interviewees who are working in the creative industry in South Korea. South Korea is a country where high levels of digital technology, creative industry, and entrepreneurship are intersected. Therefore, it is the best place to study the development of digital technology and the changes in industrial structure and entrepreneurship in the creative industry. The results of the interview showed all interviewees were very aware of the impact of technological development, and they also understood and played a different entrepreneurial role than in the past, which was required in the changing industrial structures in the creative industry. In light of these findings, two meaningful insights could be derived. First, the structure of the industry has been changed depending on the possibility of content differentiation. Because advances in digital technology have expanded participation in the production and distribution of industry, in-cumbent artists and gatekeepers are trying to differentiate themselves from the new players to be competitive. The areas that are able to differentiate can create high-end markets separated from the newly formed ones, while other fields that are difficult to differentiate in the content can be formed distinct markets, but not separated from the new markets. Second, entrepreneurial activities, which focused on the role of gatekeeping in the past, have expanded into all activities that transform artistic values into economic values. The influence of controlling the process of production and distribution as gatekeepers in the creative industry has decreased, but the scope of entrepreneurial activities has expanded in the changing industrial structure in the creative industry.
Description
Thesis advisor
Virva, Salmivaara
Keywords
entrepreneurship, creative industry, digital technology, changes industrial structure, gatekeeper
Other note
Citation