New forms of finance and funding in the cultural and creative industries. Introduction to the special issue

Abstract

This Special Issue seeks to address the perennial question of support options for the cultural and creative industries (exacerbated due to the impact of COVID-19) by bringing together articles that examine and explain various dynamics in CCI financing and funding. The articles in the Issue are diverse in their approaches, methods and data. They range from conceptual, qualitative, and case studies, to analyses based on survey data and granular 'big data'. The articles mainly address digital fundraising technologies and investment practices. Strikingly absent in this collection of studies are modes of funding in which governments and public providers occupy center stage. Innovation in financing and funding appears to be more the result of new modalities (i.e., technology-driven) than of fundamental shifts in thoughts about how the cultural economy could be approached and how the CCI should be financially sustained. The articles in the Issue suggest the emergence of a new funding paradigm, which steps away from a clear demarcation between public and private in terms of interests and financing modes. This new paradigm embraces collaborative funding mechanisms such as crowdfunding, incubator and accelerator finance, and other pooled investments, as well as digital fundraising technologies that facilitate new modes of asset finance and tokenized funding. Future research themes are being suggested: the merging of project funding with structural budgets, the emergence of new business models and improved labor market conditions due to technology-driven aids, shifts in transaction costs, and issues related to regulation and legislation.

New OTC Derivative Instrument for BRI Grand Strategy Integration: Case of ‘China, Mongolia and Russia’

“…We fully agree with the authors’ opinion that the creation of emerging financial forms is necessary for the successful implementation of the BRI, which is also in line with the BRI project policy on national financing and financial cooperation (Li et al 2019) and will be a catalyst for private sector financing (Nedopil et al 2022). Under the emerging financial form, we predict an opinion of Loots et al (2022), which suggests the emergence of a new funding paradigm that moves away from a clear demarcation between public and private in terms of interests and financing modes and emerges new forms of financial assets for non-direct investments (Loots et al 2022). We appreciate the capacity of a new form—a variety of over-the-counter (OTC) derivatives.…”

The Potential of Youth and Older People’s Inclusion in the Sustainable Development of the Creative Economy

“…Creative activity in the IT field may require expensive software (for example, Linux), to which young people do not have access. Therefore, supporting young representatives of the creative industries requires special forms of financing, such as co-financing mechanisms such as crowdfunding, financing incubators and accelerators, and other joint investments, as well as digital fundraising technologies that promote new ways of asset financing and tokenized financing [42].…”

Digital Finance and Green Development: Characteristics, Mechanisms, and Empirical Evidences

“…These contents include digital financial products, services, industries, supervision, etc. [ 8 , 9 ]. The second aspect is the analysis of the economic and social impact of digital finance through comparison with traditional finance.…”