Creative Industries: New Capabilities for the Development of Russian Cities and Regions

Abstract

A modern stage of scientific and technological transformation as well as global digitalization, growing value of intangible assets and intellectual property determine the development of creative industries as the most relevant sector of economics and society, which directly affects all of the man-induced branches. The article researches theoretical aspects of the creative industries’ formation, provides statistical data and their development indices, analyses the structure of the world market of creative industries and institutional highlights of the Russian creative segment. As a scientific result, it was concluded that a huge potential of the sphere of creative industries still remains and serves as a driver of economic development of Russia. However, all of the above-mentioned requires the institutional support and the set of measures to form a proper infrastructure for the development of the creative industries especially in Russian cities and regions. As the development of megalopolises currently remains the basic trend of creative branches in the global economy it is obviously necessary to estimate this economic sector more precisely and to look for more opportunities of integration of the Russian market segment into the global emerging creative industries’ markets. It is also significant to take the effects of the ongoing coronavirus pandemic on the development of creative industries into consideration.