Finance of creative industries in Russia

The authors of the article, considering creative industries, where intellectual property and creative content are created simultaneously, formulate approaches to the concept of creative industries finance as a set of economic relations that arise in the process of forming funds and using them to create creative products with economic value. It is also noted that in Russia, the source of the formation of funds of the creative industries for the fields of culture and art is mainly state capital, for the IT industry – private capital, in the rest there is a mixed type of financing. The dynamics of the industry’s market demonstrates steady growth, especially in the segments of digital technologies, games and media, and digitalization. The covid‑19 pandemic has accelerated the transition of many creative projects online, which has contributed to the development of digital platforms, streaming services, remote formats, etc. The export potential of creative industries such as animation, video games, and music is beginning to conquer international markets. Within the framework of national cultural projects and other initiatives, the state supports the development of creative industries through specialized funds, grants and subsidies, and educational programs. In large cities such as Moscow, St. Petersburg and Yekaterinburg, spaces are being created that become centers of attraction for startups and creative projects. The government is also working to improve the legal framework to protect intellectual property and support small businesses. However, the lack of financing is the main challenge in the development of creative industries in Russia. Many creative projects face difficulties in attracting investments, especially in the early stages of their life cycle. One of the significant reasons is regional unevenness, as the main resources and infrastructure are concentrated in large cities, which limits the development of creative industries in the regions.