Creative industries are considered as the phenomenon that addresses a number of economic and sociocultural issues in many countries and cities. In Russia, despite the fact that creative industries show significant potential for development in major cities, its state sup port is still “dotty” and non-systemic. In the official document “Principles of the State Cultural Policy” creative industries are defined as activities that combine capitalization of cultural products and their market positioning. Furthermore, certain business activities were outlined in the sector of creative industries. However, no managerial decisions in this direction of the “Principles” implementation have followed yet. The purpose of the article is to analyze the prospects for the development of creative industries state regulation in Russia. In order to achieve this goal we provided an overview of approaches to the definition of the creative industries as an economic sector, analyzed the concept of the life cycle of emerging industry with regard to creative industries, using examples from the international experience, and also we evaluated trends of the creative goods and services market in Russia. The article concludes that the scheme of the life cycle of emerging industry with state regulation measures distributed in time is the most adequate managerial technology for Russia’s creative industries, which allows them to move to the stage of a sustainable growth. The analysis has shown that, on the one hand, Russia’s creative goods and services have a low competitiveness level in the international market but, on the other hand, they generate a growing domestic demand. Entering the creative industries global market requires comprehensive state supported measures, relevant to the stages of the life cycle specific for the creative industries in the cities and regions of Russia. In conclusion, we propose some essential directions of state regulation to address the most pressing issues at this stage.