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Mapping of Nordic Creative and Cultural Industries

Financial Environment

image of Mapping of Nordic Creative and Cultural Industries

The creative and cultural industries (CCIs) have recently been debated widely, and access to finance has been at the forefront. This KreaNord report, created in 2012, maps the Nordic CCIs’ financial environment, and shows that the environment is facilitating the same access to corporate finance for CCIs as for other sectors. However, the supply of project finance requested by CCIs, is rare/non-existing, and mostly provided as debt. This report concludes the findings as market failure in supply of debt instruments for CCIs, and recommends a development process be initiated.Republished in 2015 following the end of KreaNord, the Nordic Council of Ministers’ initiative on cultural and creative industries (2008–2015).

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Executive Summary

Nordic knowledge based economies are facing the challenge to reconceive innovation which creates shared value. Shared value creation orientates on needs of society. It appreciates knowledge and competence but also creativity and talented individuals. Potential for value creation resides in creative economy concept, which combines arts, culture, business and applies technological innovation. It is released in creative processes. Shared value is born when societal value is turned to economic value. This happens by bringing content related products and services at the reach of approving audiences.

English

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