Asian Journal of Economics, Business and Accounting

This study critically examines the evolving roles of guilds and associations in standardizing contracts, wages, and enforcing professionalism within the entertainment industry. Grounded in the framework of institutional theory, the research explores how these organizations adapt to and shape industry norms and practices in response to technological advancements and shifting economic landscapes. Employing a mixed-methods approach, the study integrates quantitative analysis of wage data with qualitative content analysis of industry documents. The quantitative component focuses on the impact of guild membership, employment conditions, and policy changes on wage structures, while the qualitative component analyzes themes from academic literature, conferences, and peer-reviewed articles sourced from guild and association websites. The findings reveal that guilds play a significant role in promoting fair wages, combating piracy, and influencing government policies, yet they face challenges in addressing the needs of freelancers and ensuring long-term economic sustainability for entertainment professionals. The study contributes to a comprehensive understanding of guild functions in the digital age, highlighting their continued relevance while identifying areas for improvement. Key recommendations include developing specialized programs for gig workers, implementing blockchain-based digital rights management, establishing an AI task force to monitor the integration of artificial intelligence in the industry, and creating industry-wide professional development initiatives.