artnet AG: Artnet Outlines key Strategic Goals for 2023 amid Strong Start to the Year
EQS-News: artnet AG / Key word(s): ESG/Miscellaneous
Artnet Outlines key Strategic Goals for 2023 amid Strong Start to the Year.
New York/Berlin, March 2, 2023: Artnet AG, the leading platform for art market data and media, and the global online marketplace for fine art is excited to announce its core strategic initiatives for 2023 amid a strong start to the year.
2022 was a challenging year for people and businesses across the world. Despite this, Artnet ended the year 2022 having successfully executed on major operational changes and technology developments.
“In 2022, despite a challenging macro-environment, Artnet has grown and executed on key strategic plans. Three factors contributed to our strength: the resilience of the art and luxury markets, the robustness of our diversified business model, and the expertise and hard work of our teams around the world,” said Artnet CEO Jacob Pabst.
The 2023 financial year has started strong. Artnet’s Marketplace segment has carried its momentum from the fourth quarter forward, with Artnet Auctions recording its strongest January Prints & Multiples sale to date. Among the top lots thus far were Andy Warhol’s Flash, which realized $137,000 as well as KAWS’s No one home stay steady, the things that comfort, which realized $87,000. Upcoming auctions include the ‘20th Century Art’ sale, live March 8-23, and the ‘Contemporary Art’ sale, March 15-29, 2023.
Looking ahead, management has identified a set of strategic goals for 2023. Firstly, the Company will look to achieve sustainable growth with a focus on margin. Management will continue the operational transformation with the aim of gaining efficiencies, ensuring the Company’s financial strength and stability. In 2023 Artnet will continue on its drive towards unification, leveraging its data and media arms to create a marketplace with trust and transparency at its core. This will include a rebuild of the front-end platform to deliver an optimal user experience.
Artnet also continued pursuing strong commitments to sustainability as a member of Deutsche Börse’s important ESG Visibility Hub. We are also proud to share that our Berlin team has taken the initiative of making part of our offices available for a residency program, providing space for creatives to work, with a focus on people who have fled the conflict in Ukraine.
Artnet has an unparalleled 60 million unique users annually, making it the largest global platform for fine art. Founded in 1989, Artnet has revolutionized the way people discover, research, and collect art today. Artnet’s market data is a mission-critical resource for the art industry, encompassing more than 15 million auction results and AI- and ML-driven analytics providing an unparalleled level of transparency and insight into the art market. Artnet’s marketplace connects leading galleries and auction houses with our global audience, offering a curated selection of over 250,000 artworks for sale worldwide. Artnet Auctions, the pioneering online-only auction platform, offers unprecedented reach, liquidity, and efficiency. Artnet News covers the events, trends, and people shaping the global art market with up-to-the-minute analysis and expert commentary. It is the single most-read news publication in the fine art industry, with a rapidly growing, and dedicated audience. Together, Artnet’s broad synergistic product offering provides a comprehensive ecosystem that drives and informs the modern art market.
Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange, the segment with the highest transparency standards. The majority of operations are headquartered in New York at its wholly-owned subsidiary, Artnet Worldwide Corporation, a New York based entity founded in 1989. Artnet Worldwide Corp. owns a London based subsidiary, Artnet UK Ltd.
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02.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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