ECONOMY OF CREATIVE INDUSTRIES AS THE NEW PARADIGM

Abstract

The article states that, as of today, there are quite a lot of scientific studies and practical projects related to the creative economy. The creative economy encompasses all industries based on creative activity. The concept of the creative economy is closely related to the «knowledge economy», which is a key driver of organic growth through investment in human capital. The United Nations Conference on Trade and Development classifies the creative industries into ten main groups based on activities ranging from advertising to scientific research. This classification serves as a tool for quantifying the economic impact of the creative economy, especially for those countries that lack specific definitions or methodologies using existing ISIC codes. It has been established that in Ukraine the branch of creative industries is regulated by the Law of Ukraine «On Culture». In Ukraine, the types of economic activity that include activity in the spheres of the creative economy, according to the order of the Cabinet of Ministers of Ukraine «On approval of the types of economic activity that belong to the creative industries» include: production of jewelry and similar products; production of musical instruments; publication of books, newspapers, magazines and periodicals; publication of computer games and other software; computer programming; production and distribution of film and video films, television programs; demonstration of motion pictures; publishing of sound recordings; activities in the field of radio broadcasting and television broadcasting, etc. International statistical data on the income of the global entertainment and media industry, the export of creative goods and services, the ratio of GDP and the volume of creative products in the world and in Ukraine were studied. It is founded that creative industries are necessary for the modern economy, as they open up new, progressive models and segments of doing business. They make a significant contribution to the GDP of the countries of the world, improving the well-being of he population. Additional economic effects from the introduction of creative industries are quite significant: an increase in the number of jobs, development of the infrastructure of territories, improvement of interaction between business and society through education, art, cinema, digital technologies, theater, advertising, fashion, book publishing, radio and scientific activities. Despite the challenges facing society – the pandemic, military aggression, economic crises, limited opportunities for state support, the  complexity of scientific and technical solutions when implementing innovations – creative industries form a new business, simultaneously developing its traditional types and at the same time expanding the cultural and educational potential of states Today, creative industries have become one of the most promising and successful directions of economic development, because they combine creative activity and innovative technologies, which gave rise to a new reality in the modern economy.