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Soft InnovationEconomics, Product Aesthetics, and the Creative Industries$
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Paul Stoneman

Print publication date: 2010

Print ISBN-13: 9780199572489

Published to Oxford Scholarship Online: May 2010

DOI: 10.1093/acprof:oso/9780199572489.001.0001

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Soft Innovation in the Creative Industries: Books, Recorded Music, and Video Games

Soft Innovation in the Creative Industries: Books, Recorded Music, and Video Games

(p.82) 4 Soft Innovation in the Creative Industries: Books, Recorded Music, and Video Games
Soft Innovation

Paul Stoneman

Oxford University Press

This chapter is the first of two taking a micro view encompassing three creative industries — publishing, music, and video games — to detail the pattern of invention/creation, embodiment and diffusion of soft innovations. At the micro level, industry-specific indicators relating to the numbers of new product variants introduced are used with certain advantages relating to the identification of the rate of significant innovation being claimed for a specific measure that tracks the share of the sales of bestsellers that were recently introduced onto the market. In the creative sector, the indicated rates of innovation are high, with very considerable numbers of new products or titles being launched and rates of market churn of the bestsellers in the studied markets being very fast. This reflects a pattern quite different to the usual suggestion that innovation occurs at a rate of about 2.5% per annum (a measure usually based upon indicators of labour productivity growth).

Keywords:   bestsellers, books, music, video games, new product launches, market shares, market churn, measuring innovation

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