artnet AG: Artnet AG Annual Report 2021: strong growth, increasing sales

artnet AG, the leading platform for art market data and media and the global marketplace for fine arts, today published its annual report for the 2021 financial year. Accordingly, the company increased its total sales by 14% to 24.6 million US dollars. As expected, the company’s 2021 total earnings came in at -$887,000. The background to the negative overall result is in particular the company’s investment activity in new and improved products and sources of revenue, from which Artnet will benefit in the short term. The range of offers has been streamlined and bundled into three new segments: Data, Marketplace and Media. “Our diversified business model is crucial to our resilience and the key to accelerated growth in the current fiscal year,” said Jacob Pabst, CEO of Artnet, on the occasion of the publication of the figures.

Inside the segment Media Artnet experienced record-breaking growth with a 40% increase in revenue and a 27% increase in traffic to over 100 million Artnet News page views. The launch of Artnet News Pro in May 2021 provides the media segment with an additional revenue stream through a partial paywall subscription model. Artnet achieved a 30% increase in traffic across all Artnet domains and reached over 200 million page views, making it the most visited website in the art industry.

Inside the segment marketplace Artnet Auctions continued to deliver robust sales in fiscal 2021, solidifying the record 25% sales growth achieved in 2020. Average transaction value increased 13% year-over-year to $16,000 and Artnet Auctions billable revenue increased 6% year-over-year to $5.1 million. Artnet is the fourth largest auction house in terms of online sales behind Sotheby’s, Christie’s and Phillips. The launch of the ArtNFT website, an industry-leading, Web-3 enabled and Ethereum compatible NFT website, raised over $500 million at the inaugural Q4 2021 auction.

The segment Data has reached a historic milestone with over 15 million auction results. Data submissions increased 23.5% year over year. As a result, Artnet data continues to be the most important tool for decision-making in the industry. In the second quarter of 2022, Artnet will relaunch the price database after a complete overhaul with an overhauled user experience, mobile design and a new API-enabled data architecture.

“Artnet’s Data, Media and Marketplace segments are unique within the art industry as each represents an important vehicle for the global art market.”said Artnet’s Chief Strategy Officer Albert Neuendorf. “These three pillars form the basis for a fully integrated ecosystem for data-driven online transactions. The renewed price database is an important step towards realizing this vision.

In addition to the complete revision of the price database, Artnet is planning further updates to its online presence, which will already have a positive effect on sales in 2022. A unified navigation, a complete overhaul of Artnet News and the redesign of important key pages will not only significantly increase the user-friendliness of the Artnet platform, but also help to realize the synergies between the three segments of data, media and marketplace.

In 2020, Artnet adopted an ESG strategy (Environmental, Social, Corporate Governance), defined important areas of responsibility and set concrete goals to be implemented by 2025. The Annual Report 2021 presents Artnet’s audited ESG report for 2021. The group’s strategy is based on a vision for a more sustainable art business, corporate responsibility and social engagement. Artnet has been a pioneer in the art market for over 30 years. Artnet is once again at the forefront of reporting on ESG initiatives, continuing its principle of driving positive change and sustainable business practices.

The Annual Report for the 2021 financial year is available on our Investor Relations page

For more investor relations news and publications, visit:

http://www.artnet.com/investor-relations/

via Artnet

With over 55 million users per year, Artnet is the world’s largest platform for art. Artnet was founded in 1989 and has revolutionized the way people discover, research and collect art today. Artnet’s market data is a critical resource for the art industry. They include more than 15 million auction results and AI and ML-driven analytics that provide an unprecedented level of transparency and insight into the art market. Artnet’s marketplace connects leading galleries and auction houses with our global users and customers, offering a curated selection of over 250,000 artworks for sale. The online art auction platform Artnet Auctions offers buyers and sellers unparalleled reach, liquidity and efficiency. Artnet News reports on the events, trends and people shaping the global art market with up-to-date analyzes and expert commentary. Artnet News is the art industry’s most widely read news publication. The synergies between the products of Artnet AG form 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 regulations. Artnet Worldwide Corporation, a wholly owned subsidiary founded in 1989 and based in New York, conducts most of its business. Artnet Worldwide Corp. owns a London-based subsidiary, Artnet UK Ltd.

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

Additional material to the report:

File: Artnet AG Annual Report 2021

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