The purpose of the study is to identify the features of the cultural industries’ concept formation and potential. The research methodology is based on a comprehensive approach. The research applied general scientific and cultural methods, which promoted the detailed reading of the “culture industries”, “creative economy”, and “cultural industries” concepts, in particular, the method of structural and functional analysis, to consider their organisational components; a systematic method that, by incorporating elements of interdisciplinary analysis, has helped to determine the specificity of the development of creative industries as a holistic phenomenon. The scientific novelty is that contemporary approaches to the study of cultural industries have been considered; the results of foreign practice in cultural studies of cultural (creative) industries are generalised. Conclusions. Thus, the publication of Chris Smith’s book, Creative Britain, in 1998, was the catalyst for the transformation of the name from “cultural industries” to “creative industries”, when the term “culture” was replaced by “creativity”. The concept of “cultural industry”, which was associated with the arts rather than economic and profit, was expanded to include the production of software and information content. At the same time (1998), the concept of the creative industries came to an official definition, according to which they are those which have a potential for wealth and job creation based on individual creative initiatives, skill or talent. Thus, the cultural industry is an interdisciplinary, complex, ambiguous and contradictory system that explains the existence in the research tradition, along with the notion of “cultural industries”, alternative terms: “information industries”, “leisure industries”, “the arts sectors”, “creative sectors”, “media industries”, “the arts sector of the economy”, etc., and most often –“cultural industries” and “creative industries”. Whereas the “creative industry” is based on the creative abilities of a person who, together with managers and technologists, creates cultural goods and services.