On the contrary of the 20th century, which was known for mass-consumption, the 21st century is more likely to represent mass-innovation through the introduction of digital tools. Many amateurs are looking to become content producers.Creative products are horizontally differentiated.Many creative products can be fully digitized.When digging deeper into the reasons behind the strong impact of digital technology on creative industries, Anita Elberse, Professor of Business Administration at Harvard Business School, states few important factors: Moreover, the digital technology has played a very effective role in minimizing expenses and lowering costs of production, distribution, and marketing.Īccording to Stefan Hall, Project and Engagement Lead, Information and Entertainment System Initiative, World Economic Forum, “The internet is also how most people access content, whether for information or entertainment. Content - and access to it - forms the bedrock of the creative economy, which is the system that turns ideas and creative works into profit, either for individuals, businesses or society”. The digital world has opened up radical new possibilities for building new businesses and improving existing ones, raising investments, and marketing. Some prominent creative industries such as video games did not exist before the advent of digital technology. While film and publishing, pre-date digital technology but nevertheless have been transformed by it.Īccording to John Newbigin in his article, Relationship with the digital world, “Technology is neither a servant nor a master it’s simply a partner…It is true that digital technology, in the form of computing power, is now beginning to move from the ‘innovation’ part of the process, the application of creativity, into the area of creativity itself and this ‘artificial intelligence’ is bound to grow in significance”. Nevertheless, art and creativity is what distinguishes us from other species. The ability to express oneself manifested human intelligence over the past decades. Therefore the realization that technology and creativity should work hand in hand is very essential for maintaining the production of high quality content. For example, young musicians who aspire to be big in the music industry don’t have to wait for their big opportunity to show-case their work, they can simply with using very basic and minimal resources create their music and share it with the world. despite having easy access to do so, one should not in any way allow quality of production or even the level of creativity to be jeopardized. This goes back to the idea that when something is always available and accessible, our interest in it will eventually diminish, making us less motivated to invest time and effort.
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