UK Markets open in 3 hrs 52 mins

artnet AG: Artnet Publishes Annual Report Showing Accelerated Growth and Increased Revenue (news with additional features)

  • Oops!
    Something went wrong.
    Please try again later.
·5-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

DGAP-News: artnet AG / Key word(s): Annual Report/Sustainability
artnet AG: Artnet Publishes Annual Report Showing Accelerated Growth and Increased Revenue (news with additional features)
04.05.2022 / 16:32
The issuer is solely responsible for the content of this announcement.

Artnet Publishes Annual Report Showing Accelerated Growth and Increased Revenue

- 14% total revenue increase to 24,6 Million USD

- 40% increase in Media revenue

- 30% YoY Audience Growth to over 200 million Pageviews

- Important Artnet Platform Redesigns to be shipped in Q2 2022

New York/ Berlin, May 4, 2022: Artnet AG, the leading platform for art market data and media, and the global marketplace for fine art, today published its Annual Report for the financial year 2021. As reflected in the report, Artnet accelerated its growth, with total revenue increasing 14% to 24,6 Million USD. In line with expectations, the Company recorded net income of -887k USD in 2021 as a result of strategic investments in key hires and product development. During the 2021 financial year, Artnet reached significant milestones, growing its market share and customer base. The company also streamlined its segmentation into three core product areas: Data, Marketplace, and Media. "2021 set the foundation for accelerated growth at Artnet as the art industry continues its shift online. Over the coming years we will focus on unlocking the synergies that exist within our diversified business model in order to provide the platform for its digital future.” commented Artnet CEO Jacob Pabst.
Within the Media segment, Artnet experienced record-breaking growth, with a 40% increase in revenue and a 27% increase in traffic leading to over 100 million pageviews on Artnet News. The introduction of Artnet News Pro in May 2021 provides the media segment with an additional revenue stream through a partial-paywall subscription model targeting Artnet’s most engaged readership. In total Artnet achieved 30% traffic growth across the platform, reaching over 200 Million pageviews and making it the most visited Fine Art platform globally.
Within the Marketplace segment, Artnet Auctions achieved robust results during the financial year 2021, cementing and building upon the 25% record revenue growth of 2020. Artnet Auctions' average transaction value (ATV) increased 13% YoY to $16,100, while fee-based revenue increased 6% year-over-year to 5.1 million USD. Artnet, therefore, is the fourth largest auction house for online fine art sales behind Sotheby's, Christie's and Phillips. The introduction of ArtNFT, a curated web-3 enabled, ethereum-compatible NFT platform generated over 500k USD in sales during the inaugural sale in Q4 of 2021.
The Data segment reached the historic milestone of 15 million auction results. Data inputs increased 23.5% YoY, and Artnet’s Data continues to drive decision making as the critical pricing tool for the industry. In Q2 of 2022, Artnet will relaunch the Price Database following a complete rebuild that will feature a revamped user experience, mobile first design, and a new API enabled data architecture. “Artnet’s Data, Media, and Marketplace segments are unique in the market, with each representing a critical tool for the global art industry,” said Artnet CSO Albert Neuendorf. "These three pillars provide the foundation for a fully integrated data-driven online transactional ecosystem, and the renewed Price Database is a key step to realizing that future.”
Along with the complete rebuild of the Price Database there are important additional improvements which will already have an effect on revenues in 2022. A unified navigation, a full revamp of Artnet News, and important key page redesigns will significantly increase traffic and engagement. In 2020, Artnet adopted an ESG (Environmental, Social, Corporate Governance) strategy, defined key areas of responsibility, and set specific goals to be implemented by 2025. The Annual Report 2021 includes Artnet’s audited 2021 ESG report. By reporting on ESG initiatives, Artnet pursues its principle of spearheading positive change and sustainable business practices in the art market.

The annual report for the financial year 2021 is available at artnet.com/investor-relations/annual-reports/

Further Investor-relations related news and publications can be found here:
http://www.artnet.com/investor-relations/

About Artnet
Artnet has an unparalleled 55 million 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 Data provides mission-critical resources for the art industry, encompassing more than 15 million auction results and AI- and ML-driven analytics, further driving transparency and insight into the art market. Artnet’s marketplace connects leading galleries and auction houses with its 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 for buyers and sellers. 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, 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.

ISIN: DE000A1K0375
LEI: 391200SHGPEDTRIC0X31
Contact:
Sophie Neuendorf
sneuendorf@artnet.com

Additional features:

File: Artnet Annual Report 2021

04.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

artnet AG

Oranienstraße 164

10969 Berlin

Germany

Phone:

+49 (0)30 20 91 78 -0

Fax:

+49 (0)30 20 91 78 -29

E-mail:

info@artnet.de

Internet:

www.artnet.de

ISIN:

DE000A1K0375

WKN:

A1K037

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange

EQS News ID:

1343795


 

End of News

DGAP News Service

show this
show this
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting