This study suggests research opportunities in Arts and Cultural Management area where arts and strategic management share academic subjects. Journals in strategic management have had papers focusing on arts business, performance of arts goods, and box office performance at industry and individual levels. Journals in arts and cultural management, on the other hand, have had papers focusing on the subjects including valuation, exploration and exploitation, bricolage, governance, isomorphism, and uncertainty. This study argues that the debates on economic vs. artistic values, quantitative vs. qualitative methods, and micro vs. macro level issues should be more discussed to boost research in this area. To sum, three trends are suggested where future research opportunities reside.