This chapter traces key aspects of the governance mix for the constitution of a cultural economy. An emergent cultural economy is also of critical interest for institutional analysis, and for a number of reasons. Firstly, such an analysis addresses the need to take culture seriously within the study of economic organisation, in terms of seeing culture as a kind of 'padding' for economic activity and as a sector of production, distribution and consumption involving distinctive organisational forms, market relations and competitive logics. Secondly, within the cultural field market actors, market segments and market commodities are constituted in innovative and often unstable ways. Thirdly, contemporary cultural industries are subject to a highly variable mix of markets, firms and networks as means of shaping economic processes and exchanges.