The Role of Digital Technologies in the Innovation Governance and Financing of the Cultural and Creative Industries

Abstract

Cultural and creative industries face persistent challenges in securing sustainable financing and equitable governance, particularly under traditional models reliant on centralized intermediaries and public subsidies. This study examines the potential of decentralized autonomous organizations, enabled by blockchain technology, to address these constraints through innovative governance and financing mechanisms. Using a quantitative methodology supported by t-tests, bootstrap resampling and analysis of variance (ANOVA), the analysis draws on multiple public data sets to assess the effects of these organizations on financing access, market performance, income stability and governance inclusivity across the sector. The results show that decentralized organizations substantially expand available financing, with treasury sizes far exceeding traditional benchmarks, and increase market engagement through high-value digital asset sales, although differences in broader market potential are not statistically significant. Income stability improves in several projects, while governance outcomes vary by subsector, with inclusive decision-making often challenged in larger communities. Grounded in digital economy, organizational, stakeholder and sustainability theories, the study fills a critical empirical gap in research on decentralized models within cultural and creative contexts. It offers actionable insights for policymakers and practitioners and highlights the need for future work on subsector dynamics and regulatory frameworks that can support the democratizing potential of decentralized governance.