Research On Cultural Enterprises Profiting From Content Innovation Based On The PFI Theory

In the era of knowledge economy and the background of national innovation strategy,cultural and creative industry develops rapidly,and a large number of cultural and creative enterprises emerge.Content production is its core capability,and cultural and creative resources are the core resources of the industry.However,the uncertainty of creative production and the high risk of the industry mean that only creative ability or cultural creative resources cannot guarantee enterprises to realize and obtain their economic benefits.The reality is that some enterprises with high-quality cultural creative resources gradually decline in the market competition.Because Profit From Innovation Theory has explanatory power for the reality contradiction,and the research on the profit from cultural creativity from the perspective of enterprises is not sufficient,this paper proposes the core issue to be studied: How can cultural enterprises profit from content innovation based on the PFI theory.This paper tries to apply the theory of profit from innovation to cultural industry,and explores how cultural enterprises profit from content innovation through the translation of its constructs and case studies.Firstly,the thesis reviews the PFI theory and its application in industry,and refines the main research directions of profit-making strategies in cultural and creative enterprises.Secondly,based on the analysis of the basic logic of the application of the PFI theory in the cultural industry and the concrete performance of the three constructs,the applicability of the theory is confirmed.After reasonable translation,the basic analytical framework of the application of the innovation profit theory in the cultural industry is proposed.Thirdly,this theoretical framework is used to analyze three cases of China Literature Group,Tencent Music Entertainment Group and Enlight Media.Then,this paper makes a cross-case summary and evaluates the profit-making framework of content innovation of cultural enterprises based on the unique attributes of the cultural industry itself.Finally,according to the analysis of the law of industrial development and the emphasis on the main role of enterprises based on the theory of the PFI theory,it is suggested that the policy of cultural and creative industry should be changed into a functional one,aim at the uniqueness of the industry and give full play to the main role of enterprises.This study proves that the PFI theory has certain applicability in the cultural industry and can be used to analyze the profit strategies of cultural enterprises.The main conclusions are as follows: 1.Summarize the profit-making framework of content innovation suitable for cultural industry and summarizes the general strategies of cultural enterprises to profit from content innovation according to case analysis.In terms of strengthening the appropriability regimes,enterprises can take legal measures,administrative measures,technical measures and alliance cooperation to strengthen the protection of intellectual property rights.It can also create a creative ecological environment to connect creative content and talent resources.In the construction of complementary assets,enterprises should acquire the key supporting assets of the industry,further improve the complementarity of assets to create more value,and reduce the mobility of assets to improve the discourse power of value distribution.In terms of responding to the reform of industrial architecture,enterprises need to improve the strategic flexibility,resource flexibility and coordination flexibility to meet the changes of needs,technologies and governance environment in the cultural and creative industry.2.Abstract the development law of cultural industry and the characteristics of cultural enterprises: In the development of cultural industry,the appropriability regimes tend to be strict,the key supporting assets are mainly channels and platforms,the industrial structure is accelerated reform,and the trend of open innovation appears.Enterprises pay more attention to the connection with content producers,alliance and cooperation,and intangible assets.3.Combined with the unique attribute of cultural industry,the PFI theory is expanded.Under the background of open innovation,the management of cultural innovation talents lays more emphasis on the construction of innovative ecological environment and the generation of connection;The cultural attribute and social attribute expand the value connotation of the PFI theory,and emphasize the enterprise’s culture and social responsibility in the cultural industry;Cultural resources are derivative and value-added,so the complementary assets of cultural industry should emphasize the ability to expand the value of content innovation resources.4.Give the policy inspiration for the development of cultural and creative industry.In the situation of cultural creative industry developing more prosperously and cultural creativity enterprise main body role more prominent in market competition,cultural creative industry policy should transform to be functional,emphasis unique properties of the industry,such as mental and political nature,give full play to the enterprise in the led industry development,standardization of property rights protection environment,the function of creative ecological construction.The contribution of this paper is to apply the PFI theory to the cultural industry,which is helpful to enrich the innovative connotation of the theory and expand the research field of the theory.It is of guiding significance for cultural enterprises to make strategic decisions in the market competition to summarize the general strategies of profiting from content innovation.Under the background of national industrial transformation and upgrading and innovation strategy,it can provide some inspirations for the government to formulate cultural industry policy and optimize industrial development environment.