RCS - artnet AG - Half Year Financial Report

Hermes International SCAAnnouncement

16/08/2022 08:15

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RNS Number : 1456W  artnet AG  16 August 2022

 artnet AG / Key word(s): Half Year Report/Product Launch

artnet AG: Artnet Publishes 2022 Half Year Financial Report, Showing Growth
 and a First look at the new Price Database

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

Artnet Publishes 2022 Half Year Financial Report, Showing Growth and a First
 look at the new Price Database

 ·      8% revenue increase to 12,9 million USD

 ·      72% growth in Media segment

 ·      Preview of new Price Database

 New York/ London/ Berlin, August 15, 2022: Artnet AG, the leading platform for
 art market data and media, and the global marketplace for fine art, today
 published its Half Year Financial Report 2022. As reflected in the Report,
 Artnet recorded robust growth, with total revenue increasing 8% to 12,9
 Million USD. "Artnet has undergone transformational changes in the first six
 months of the year. We have built strong momentum in our technology
 development, initiated key operational projects, and welcomed instrumental new
 team members," says Artnet's CEO Jacob Pabst. Harnessing the unique synergies
 between the Company's Media, Marketplace, and Data segments, Artnet is
 positioned to capture the nascent shift in purchasing behavior towards online
 transactions by providing a holistic online ecosystem for the global art
 market. The Half Year Report includes an exclusive first look at the new Price
 Database.

 The Media segment recorded record breaking growth, with a 72% increase in
 revenue YoY within the first half of the year. This was primarily driven by an
 increase in Advertising, with recurring clients such as Hermes, Saint Laurent,
 and JP Morgan Private Bank choosing Artnet as their trusted advertising
 partner. Luxury Advertising increased by 55% YoY within the first half of
 2022, and Artnet News Pro also showed continued growth.

 Several key milestones were achieved in the Marketplace segment despite the
 impact of worsening market conditions, such as a landmark partnership with
 China's Poly Auction as well as the first "NFT Drop" on Artnet's ArtNFT site.

 Top lots during the first quarter of 2022 include Roy Lichtenstein's Nude with
 Yellow Pillow (from the Nude series), which realized 425,000 USD including
 premium, significantly above its high estimate of 300,000 USD; Light artist
 Dan Flavin's 'Untitled (to Brad Gillaugh), which hammered down at 275,000 USD
 including premium; as well as Ed Ruscha's iconic 'Mocha Standard,' which
 realized 150,000 USD including premium. In line with Artnet's ESG initiatives,
 Artnet Auctions hosted 3 sales with philanthropic components during the first
 half of the year, benefitting Ukraine relief efforts as well as LGBTQ
 initiatives.

 The release of the new Price Database rebuild in Q3 is set to drive growth in
 the Data segment in the second half of the year. The new Price Database
 provides a completely redesigned, mobile-first user experience that allows for
 optimized  search and navigation. It features graphical analyses and
 indicators that enable unparalleled insight into the art market, as well as a
 rebuilt API-first data architecture that permits direct client data delivery
 and the creation of bespoke analytical functionalities for businesses in the
 art market as well as in the financial community.

 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

15.08.2022 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:  1420731

 

 End of News  DGAP News Service

 

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