Until recently, the economic and employment potential of the cultural sector was seriously underestimated, or even totally ignored, in debates about European cultural policy. This has changed dramatically in the past decade, with a new focus on the term ‘culture industries’ (relabelled ‘creative industries’). These terms have become political buzzwords. Some governments and EU officials have come to embrace the culture industries as a model for strategies related to economic growth, competitiveness and job creation.

Andy C. Pratt from the London School of Economics reminds us, though, that the culture industries still ‘sit uneasily within the public policy framework’ (Pratt, 2005). This is due to the openly commercial orientation of these industries, which seems to be opposed to the ‘market failure’ strategy in raising public funds pursued by traditional arts institutions – such as museums, public theatres and other not-for-profit actors.

Certain studies remind us that, for decades if not centuries, many artistic and literary genres (e.g. film, contemporary art and literature) depended mainly on private market structures. Self-employed artists and other independent professionals working in the arts and media are just as much a part of the cultural and media industries as are small, medium-sized and large companies or transnational conglomerates. Some parts of this sector are characterised by fruitful cooperation or complementary relationships between public and private actors. Others experience fierce competition and monopolistic dominance by a few companies, which may even prevent the development of a diverse marketplace of ideas.