The coronavirus crisis has highlighted the value of the creative industries to the global economy. In the UK alone, these sectors spanning arts and entertainment contribute almost £85bn each year to the British economy. And, all over the world, in China and India for instance, governments are beginning to prioritize the growth of their own creative sectors.
They have taken a hit from Covid-19, but the pandemic has compounded not just the output they generate but their cultural contribution to countries across the globe. The creative industries employ millions globally in music, film, television, publishing, gaming, advertising, crafts, museums and architecture.
There are diverse job opportunities on offer for graduates of creative industry MBAs, which have been set up by several leading business schools in recent years. They aim to create a new type of business leader who combines creative thinking with finance and entrepreneurial skills.
Many of these specialist MBA programs have been established with help from industry experts, sometimes Hollywood stars. They are inherently practical, with study trips around the globe a common theme. Here are the top 10 MBAs for creative industry management:
NYU Stern School of Business in New York City runs the Entertainment, Media and Technology program for MBA students. Candidates will learn how to manage businesses across the spectrum of the entertainment and media industry. The MBA focuses on both the business and content aspects of the creative sectors, covering marketing, finance, film, television, music, sports and publishing. The Big Apple is home to many leading creative firms and the course was developed with an advisory board of executives from these businesses including Netflix and Apple.
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SMU Cox runs a joint MBA/MA program in Arts Management that blends business and the arts. It includes internships with leading arts organizations and prepares students to take up leadership positions in the arts, entertainment, education and non-profit sectors. Some 90 percent of the students have received a merit scholarship award with the amount ranging from $5,000 to a full ride.
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Schulich’s MBA specialization in Arts, Media & Entertainment Management is one of the few Canadian programs to focus on the creative industries. Its courses cover a variety of aspects in the sector, from broadcast media to digital. The school’s Toronto location puts it right in the middle of a hot location for film production and the arts.
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Although the school is very near to Hollywood, UCLA’s MBA specialization in Entertainment Management covers more than just the film industry: it also addresses topics in content creation and entertainment law. The school also hosts some related networking groups, such as the Entertainment Management Association Club.
View School ProfileThe school’s longstanding MBA in Arts Administration provides a range of learning opportunities, from its specialized classes to practical, hands-on components. As part of the program, students are placed with a local arts organization so that they can get some real-world experience. Beyond arts organizations, graduates from this program also go into nonprofit originations as well as social enterprises.
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Bocconi’s location in Milan puts it smack dab in the middle of an arts center. The school has leveraged the location with various MBA and other master’s degree options in Luxury Management. The school’s Arts & Culture Knowledge Center serves as a hub for research and networking in these fields. The school also offers a Master in in Arts Management and Administration.
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ESCP, a leading business school based across the European continent, puts on a two-week summer school for MBA candidates in London focused on the creative sectors. The summer school draws on insight from ESCP’s highly ranked MSc in Marketing and Creativity. It focuses on how brands are created and promoted, exploring innovation. London is a leading hub for the creative industries.
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MBA students at USC Marshall, in California, can take an elective course in the Business of Creative Industries. It focuses on the highly competitive entertainment market and seeks to fill the business skills gap in this sector. Students will understand the artistic mindset and how to manage that relationship effectively. They can also specialize within the elective on broadcasting, film, telecoms, the internet or music.
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The UK’s Cardiff Business School, in Wales, puts on a one-year MBA with Media program in collaboration with Cardiff University’s School of Journalism, Media and Culture. Students gain management and media skills to secure senior positions in global media organizations. The course explores theory, but students put it to work through built-in practical experiences.
View School ProfileThe UK’s Ashridge Business School and Creative Skillset, a training body, in 2016 created a two-year MBA for the Creative Industries that focuses on providing the entrepreneurial skills that the sector lacks. It was set up with Lord Puttnam, an Oscar-winning British film producer behind smash hits such as Chariots of Fire and The Killing Fields.
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