Creative Many, an organization dedicated to developing a creative and competitive economy in Michigan, has released their 2016 Creative State Michigan Creative Industries Report. In the report, there was an abundance of information about the current and future economic contributions of 12 distinct creative sectors, including:
Art Schools, Artists & Agents
Culture and Heritage
Fashion, Garment & Textile
Film, AV & Broadcasting
Literary, Publishing & Print
Visual Arts & Crafts
The State of Michigan’s Advertising-Related Sectors
The 160-page report emphasizes the contribution that creative careers and services provide to the state of Michigan. Creative industries account for 2.17% of all individuals employed in the state. Of that, those in the advertising field make up 13.3% of all wages and have seen the steadiest growth from 2011 to 2014.
Overall, though establishments in the creative industries may be disappearing or merging with larger companies, the employment rate is steadily increasing across almost all sectors. The only one to see a decline is Literary, Publishing and Printing, and even that is not really a surprise based on the technology-focused landscape in which we now live.
Creative Transformation in the Marketing Field
The digitization of content has also left its mark on the Film, Audiovisual and Broadcasting sector. Millennial viewers challenge the traditional structure of television broadcasters as they increasingly turn to the Internet and mobile devices to access content. Technology has allowed the public to be curators of their own content, ignoring that which is not relevant in favor of personalized information. That doesn’t mean television broadcasting is losing relevance – rather, it needs to pursue a creative transformation to match pace with rising audience segments.
An Example of Success
In 2000, Netflix’s main service still revolved around providing DVDs by mail, and they were struggling. At that time, they approached Blockbuster Video about partnering and managing their online rental business. Blockbuster turned down the offer.
Netflix didn’t give up after the initial rejection from the rental conglomerate. Instead, they took the initiative to change their own business model. The risk was high, but in the end, the reward was worth it. Today, Netflix is worth $32.5 billion because they recognized that the world around them was changing. Their business model, which transformed from a mail DVD service to an online streaming subscription, had the foresight to survive the rapid changes in technology.
Transformations for a Stronger Future
Disruption leads to transformation. The rapid advancements society has made in technology over the last 16 years alone have shaken up many industries and traditions. Some businesses will fail because they didn’t adapt, like Blockbuster. Others will have enough foresight to abandon methods that don’t work and will thrive.
One thing is for certain as businesses in Michigan move forward: they will need to leverage the state’s creative minds in partnership with technology, engineering and manufacturing experts to create thriving, and most importantly, lasting endeavors.
For the full report and other key insights, visit Creative Many.