The creative industry has a myth making process surrounding it. There is a idea of a promise of wealth, fame and unrealistic jobs and there is a idea surrounding the fact that anyone can make it. However there is also hard work involved in this industry.

what strategy do they put in place to minimising the risks

David Hesmondhalgh talks about how the creative industry is a very risky business and how there is many risks throughout the whole process of the production, advertising and consumption. For example in the production it can be risky because whatever your creating, froe example a song could go bad because the song could be bad and not many people enjoy it. Furthermore, advertising can also be very risky because you could end up not advertising the product successfully and the whole product will fail therefore if the product is not advertised properly then the whole product can fail therefore ruining the project. Finally there can be a lot of risks in consumption. For example, the consumers may not like the product that you have put out there therefore the whole product will flop and be a waste of time and money.

There are plenty of strategy’s they can do to minimise the risk of the product failing and being a waste of money. For example within the production they can do tests to see if the product is good enough to even be released because if the product is bad and people end up releasing it then the outcome will therefore be a fail and have completely wasted their time and money.