Cirque de Soleil is a great candidate for looking at just how to create an industry through innovation. Sure, there were localised circus troupes world wide and it wasn't a new concept. However, Cirque du Soleil managed to take a fringe phenomenon and bring it mainstream, making it very profitable for artists, organisers, host cities, suppliers... alike!
Cirque de Soleil offers artistic performances that are a unique blending of the circus and theatre. They were able to create a product within an uncontested market space, which meant no direct competitors. By standardising the model, yet allowing for a great degree of artistic freedom within this model, the result has been lower production costs and spectacular productions.
- Seen by over 70 million people
- Over 40 countries
- Generated over US$700 million in revenues
Can you think of ways to create your own industry?