Managing Uncertainty in Creative Industries: Lessons from Jerry Springer the Opera

This article considers the impact of uncertainty on entrepreneurial performance in the UK theatre industry. The article identifies and evaluates the major determinants of demand uncertainty – audience composition , critical acclaim and media coverage – whose management is key to entrepreneurial success. An in‐depth historical case study of the controversial production, Jerry Springer the Opera , analyses the evolution of these three distinct sources of uncertainty and illustrates that they should not be treated in isolation since they interact in complex ways which change with time. The case study shows how the entrepreneurs involved used a multi‐staged production process as a strategy to market test their product and to distribute their risks across agents and over time. The article therefore considers what contributed to both the successes and failures of these entrepreneurs as well as highlighting important strategic lessons for managing uncertainty in creative industries.