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Re-imagining public value with the BBC

The 香港六合彩中特网聽Institute for Innovation and聽Public Purpose (IIPP)聽is undertaking a research project with the BBC to examine how to research and co-design new assessment methods for public value.

About the project

The 香港六合彩中特网聽Institute for Innovation and聽Public Purpose聽is undertaking a short research project over summer 2020 with the BBC to examine how to research and co-design new assessment methods for public value. Better understanding how to聽reimagine, practice and evaluate public value is key to the mission of IIPP, so we are delighted to be taking part of this project.

Key to our understanding of public value is the need to understand the public sector not just as a聽market fixer but a market shaper. This means co-creating value.聽This faces a bottleneck as the notion of value is often confused with price, and is dictated by market ideals of efficiency and cost reduction as opposed to long-term value creation and purpose.聽

At IIPP we argue that public value is co-created and co-shaped by a diversity of actors that include the state, business and the third sector.聽The BBC is perhaps the UK鈥檚 most visible public value creator 鈥� and an聽example of the entrepreneurial state聽鈥� with a trusted global brand that is synonymous with the highest quality media content. The Corporation鈥檚聽remit to 鈥渁ct in the public interest, serving all audiences through the provision of impartial, high-quality and distinctive output and services which inform, educate and entertain鈥� is comprehensive and aspirational.聽But this value is sometimes hard to convey in measures that are reliant on cost alone.

Understanding value as co-created requires a market shaping logic rather than market fixing one.聽As an innovative public institution, the BBC creates huge public value, but in some debates about the institution there is an implicit accusation that the broadcaster is 鈥榗rowding out鈥� the market through the scale and quality of its services. In this short project, IIPP is working with the BBC to consider dynamic new ways to assess its contribution as market creator. Rather than beginning with a market failure framework, which sees public organisations like the BBC as only relevant in their capacity to fix market failures (such as public goods that are not invested in by the private sector), we will look at the BBC through a market shaping framework. We argue that the criteria for evaluating and assessing public organisations that stem from such a framework are very different from those that stem from a market failure one. Over summer 2020, we will be聽developing and testing聽metrics that assess how the BBC delivers against its mission, creating public value and in the process co-creating and shaping markets.

Event

Reimagining public value with the BBC

27 April 2021, 6:00 pm鈥�7:00 pm

In this webinar, Clare Sumner, Director of Policy at the BBC and Mariana Mazzucato, founding Director of IIPP, discussed the dynamic new ways the BBC can look at its value as a market creator.

Report

As a result of our work with the BBC, we have published a scoping report titled 'Creating and measuring dynamic public value at the BBC' which聽outlines an early stage prototype of an evaluation framework that can measure dynamic public value at three levels聽鈥斅燼t the direct layer (the essential baseline), at the 鈥渄ynamic鈥� layer which accounts for the spillover effects of activity and then at the 鈥渕arket shaping鈥� layer that looks at how value is catalysed by the BBC and co-created with others.聽

Resources

Evidence submission for聽the House of Lords 鈥淏BC future funding鈥� inquiry
Blogs
  • ,聽Rowan Conway, Mariana Mazzucato
In the media
  • ,聽Project Syndicate, 22 Feb 2021, Mariana Mazzucato
  • ,聽speech on the report, delivered to the Westminster Media Forum聽by聽Clare Sumner, CBE, Director of Policy at the BBC
On public purpose
  • IIPP is changing how public value is imagined, practised and evaluated to tackle societal challenges. Read our brochure.
On market shaping
On public value
On public value and market shaping
  • Mazzucato, M. and Ryan-Collins, J. (2019). 鈥淧utting value creation back into 鈥榩ublic value鈥�: From market fixing to market shaping鈥�, 香港六合彩中特网 Institute for Innovation and Public Purpose, Working Paper (IIPP WP 2019-05). /bartlett/public-purpose/wp2019-05
Previous work on the BBC
  • Mazzucato, M. and O'Donovan, C. (2016) "The BBC as market shaper and creator" in Rethinking the BBC: Public media in the 21st Century, Seth-Smith, N., et. al. (eds.), Commonwealth Publishing.聽

Partner

BBC

Contact

Rowan Conway
Policy Fellow and Head of IIPP鈥檚 Mission-Oriented Innovation Network
rowan.conway@ucl.ac.uk