Business Model Evolution and Entrepreneurial Adaptation of Festivals: The Case of Santiago a Mil

Santiago a Mil was founded in Santiago, Chile, in 1994 and is now one of South America’s most successful theatre festivals. This case study looks at the evolution of the business model for the festival, a private initiative launched by two cultural entrepreneurs with strong social values. The authors identify four periods in the evolution of the business model in the context of Santiago a Mil and describe how the festival has recently adapted to a difficult local situation, strengthening its connection with audiences and the public, both live and through social media. They underline some factors in the external context and in the entrepreneurial profile of the two founders that may have influenced how the festival’s business model evolved over time. The authors also discuss the role of festivals and cultural entrepreneurs as social actors that impact the world today, when protests increasingly are being orchestrated on social media.