Propelled by their remarkable capabilities to generate novel and engaging content, Generative Artificial Intelligence (GenAI) technologies are disrupting traditional workflows in many industries. While prior research has examined GenAI from a techno-centric perspective, there is still a lack of understanding about how users perceive and utilize GenAI in real-world scenarios. To bridge this gap, we conducted semi-structured interviews with (N=18) GenAI users in creative industries, investigating the human-GenAI co-creation process within a holistic LUA (Learning, Using and Assessing) framework. Our study uncovered an intriguingly complex landscape: Prospects-GenAI greatly fosters the co-creation between human expertise and GenAI capabilities, profoundly transforming creative workflows; Challenges-Meanwhile, users face substantial uncertainties and complexities arising from resource availability, tool usability, and regulatory compliance; Strategies-In response, users actively devise various strategies to overcome many of such challenges. Our study reveals key implications for the design of future GenAI tools.