Previous investigations of consumer subcultures in the CCT tradition focused primarily on consumer behaviours, feelings, experiences and meanings of consumption. This paper advocates that in order to deeply understand and interpret a particular subculture, researchers in consumer culture should consider more thoroughly the interaction between consumers and producers in consumption markets. This argument is illustrated with a research project on lifestyle sports. From the results of this study it appears that producers play a vital and interdependent role in meaning and interpretation processes. It is argued that processes in which consumers give meaning to activities can not be isolated from the processes in which producers ascribe meanings to activities, settings and markets. In this 'circuit of culture', production and consumption are not completely separate spheres of existence but rather are mutually constitutive of one another (Du Gay, Hall, Janes, Mackay, & Negus, 1997).