Stuart Cunningham, Mark David Ryan, Michael Keane and Diego Ordonez

Potential of:◦ New wealth creation; cultivation of local talent;

creation of creative capital; new export markets Acts as a multiplier of effects throughout

the broader and global economy

Barriers to Financing Creative Industries

Developing countries typically have a pressing need to give any financial aid to education, poverty & infrastructure before it is given to creative industries

Weak institutional & political support Low levels of entrepreneurial capability Dependency on foreign firms & investment Inefficient or non-existent copyright regimes

China Latin America

Unmanageable regulatory system◦ Many licenses are needed

in order to operate Bureaucratization works

against implementation of long-term business models

Dependency on relationship maintenance

High Copyright & Rights management costs for Start-ups

Lack of naturally skilled local talent

Dominance of the music ‘majors’◦ EMI, BMG, Warner Music

Group, Sony Music Entertainment, Universal/PolyGram

Talent is “poached” Over-emphasis on

regulatory & tax incentives for firms

China Latin America

Barrier Film TV Audio-Visual

Publishing

Performing Arts

Start-up capital

x x

Working capital

x x x x

Lack of bus. expansion capital

x x x

Distribution barriers

x x x

Intellectual property regime

x x x x

Piracy xInstitutional support framework

x x

Barriers Music FilmStart-up capital x

Working capital x x

Lack of bus. expansion capital

x x

Distribution barriers x x

Piracy x x

Institutional support framework

x x

Indigenous Australia

A developed country with many correlations of a developing country

Quality & unique creative industries is contingent upon having a large consumer market available◦ Test and feedback

Creative Industries is the least recognized innovative sector in Australia

China Latin America

All China Sports Federation◦ For development of

e-sports◦ National investment

in video games

Established live music practice

Local & national broadcasting system

Domestic recording industry

Access to international markets

Visual Arts One of

Australia’s most significant exports ever

Indigenous Australia

1. Out of the 3 countries, who’s creative industries do you feel impacts the US & the rest of the world most?

2. Which makes least impact globally?

3. Which barrier do you feel is universal around the world? Why?