‘Value’ is an important and developing research topic in the field of marketing; however, the research on how value is co-created through stakeholders’ interaction remains limited. This study argues that an arts festival as a collective art production acts as a platform through which the stakeholders co-create value. By employing the publically-funded Huashan Living Arts Festival in Taiwan, which focuses on performing arts, as a case for collecting longitudinal data, this study explores how the stakeholders interact to co-create and obtain value. The findings reveal that value is co-created through the interactions between the stakeholders, rather than by a single stakeholder, in an arts festival. A proposed framework of value co-creation identifies the process and stakeholders’ interaction with regard to a performing arts festival, from a macro-level context.
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