The Economics of Authenticity: How Sincerity is Created and Sold in the Creative Industries

Abstract

The object of the study is the creative economy of the Russian Federation in the period 2021-2024, viewed through the prism of the phenomenon of authenticity. The subject of the study is economic indicators reflecting the creation and commercialization of intangible assets (intellectual property, innovation, and unique content), which are interpreted as proxy variables of the "authenticity economy." The aim of the work is to identify empirical patterns between investments in intellectual property, intangible assets and commercial results of creative industries, as well as to determine the dynamics of the transformation of the cost structure towards intangible production. The methodology of this study includes statistical time series analysis, Pearson correlation analysis, calculation of chain growth rates and data visualization. An almost linear relationship (r = 0.998) has been established between revenue and investments in intellectual property. It was revealed that the share of such investments in the total volume of investments increased from 27.3% to 48.5% in four years. A high synchronicity of growth in gross value added, profit and intangible assets was also revealed; the innovative activity of enterprises increased from 10.7% to 13.6%. The data obtained confirm the scientific hypothesis that in the creative industries authenticity (as uniqueness and immateriality) becomes a key factor in creating value, and its commercialization is carried out through investments in intellectual products and their subsequent capitalization.