Arts Promoters - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Arts Promoters - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The art promoters market has generated a revenue of over USD 73.146 billion in the current year and is anticipated to register a CAGR of more than 6% for the forecast period.

Key Highlights

• The Arts promoters market includes various activities related to promoting and organizing various forms of arts. The arts promoters market is essential as it creates a relationship among artists and performers with audiences. The revenue in the Arts Promoters market is majorly due to ticket sales, sponsorships, merchandise sales, and other related services.
• The independent formats are offering new platforms for new talent to promote their events. Since companies are often averse to taking risks with new talent, artists are making use of social media platforms and are taking charge of their own personal marketing and distribution. Social media platforms have created a new means of connectivity and marketing opportunities for artists.
• With the advent of COVID-19, the global export of art, collector's pieces, and antiques observed a sharp decline, as international transport was significantly at a halt. As the recovery started, the export value further started to increase. With COVID-19, the cancellation of art promotion/exhibition events, operating restrictions, and changing consumer preferences for online art affected the business of art promoters as well.

Arts Promoters Market Trends

Art Exhibitions are Dominating the Market

• Art exhibitions have grown worldwide over the past decade. The growth in interest in visual arts, appreciation for culture, and creativity are making people attend art exhibitions. Globalization has facilitated cultural exchanges between countries. This has led to an influx of international art exhibitions.
• The growth in the tourism industry is also propelling art exhibitions as they are attracting most of the tourists. The collaborations made by schools, universities, and museums to conduct educational exhibitions are also propelling the art exhibitions market.

E- Commerce is Driving the Market

• The promotions made online registered significant growth over the years. Due to the impact of COVID-19, the promotions made through e-commerce sites are on the surge.
• The rise of blockchain-authenticated artwork is having a positive impact on the business of auction houses. With a rise in the use of digital technology, artists from different countries are collaborating and showcasing their team-made products.
• Online sales made it convenient for visitors to register for art exhibitions and other art events. Apart from this, some e-commerce sites provide discount coupons that attract visitors. These are also propelling the online sales of arts.

Arts Promoters Industry Overview

The market studied is moderately fragmented, with the presence of various regional and global players in the market. However, regional players in every country have an advantage in promoting art products in various regional styles and designs. With technological advancements in promotions, the market is expected to register higher growth. The major companies in the market include Gagosian Gallery, Pace Gallery, Hauser and Wirth, White Cube, and Saatchi Gallery, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support