RCS - artnet AG - Artnet Outlines key Strategic Goals for 2023

Artnet AGAnnouncement

02/03/2023 14:00

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RNS Number : 7089R  artnet AG  02 March 2023

 artnet AG / Key word(s): ESG/Miscellaneous

artnet AG: Artnet Outlines key Strategic Goals for 2023 amid Strong Start to
 the Year

02.03.2023 / 13:06 CET/CEST

The issuer is solely responsible for the content of this announcement.

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  (https://www.artnet.com/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.

 About Artnet

 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.

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

 ISIN: DE000A1K0375

 LEI: 391200SHGPEDTRIC0X31

 Contact:

 Sophie Neuendorf

 sneuendorf@artnet.com

02.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News
 - a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
 Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com

 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:  1573439

 

 End of News  EQS News Service

1573439  02.03.2023 CET/CEST

 

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