The Other Art Fair’s Online Studios Reaches Milestone $1 Million in Gross Transaction Value

Rhea-AI Summary

The Other Art Fair launched its Online Studios in April, generating over $1 million in Gross Transaction Value by the end of July. This digital platform, developed in collaboration with Saatchi Art, was a response to postponed Spring fairs due to industry-wide cancellations. Over 90% of artists scheduled for the Spring fair have participated, showcasing curated collections and exclusive programming. As part of future initiatives, The Other Art Fair plans to integrate virtual reality art installations and spotlight emerging artists in various cities.

Positive

• Online Studios generated over $1 million in Gross Transaction Value in three months.
• Over 90% of scheduled artists chose to participate in the new digital platform.
• Plans to integrate virtual reality art installations in future fairs.

Negative

• None.

SANTA MONICA, Calif., Aug. 06, 2020 (GLOBE NEWSWIRE) -- The Other Art Fair, a leading artist fair for discovering emerging artists, today announced its new Online Studios has generated more than $1 million in Gross Transaction Value (GTV) since its launch this past April, through the end of July. The Other Art Fair’s Online Studios is a digital platform inspired by the offline fair experience, created in partnership with global online art gallery Saatchi Art. The launch of Online Studios follows the postponement of its Spring fairs as an alternative for the business to maintain momentum and provide an opportunity for artists affected by the industry-wide cancellations of live art and culture events.

Support from the artist community has been overwhelmingly positive, with over 90% of artists who had been scheduled to show at a spring fair choosing to participate in this new digital experience. In addition to highly curated Fair collections, Online Studios features exclusive digital programming, such as live artist workshops, virtual art tours and in-studio artist profiles, along with live streamed social media content produced especially for Online Studios. The Other Art Fair will continue this business strategy of pairing digital and interactive initiatives with live in-person events as the brand focuses on expanding its global audience.

“Following the announcements of regional restrictions on large-scale events, our team immediately pivoted focus toward new opportunities for us to support our emerging artists and keep our audience engaged.  Through this effort, the idea of Online Studios was born,” said Ryan Stanier, Founder of The Other Art Fair. “This launch has been a combined effort between our global artist community and The Other Art Fair team to transition our Fair’s work from offline to online. It’s given us some key insights into the future of art fairs and the importance of integrating technology and digital tools. As we look to our future fairs, we’ll be presenting some exciting new initiatives, such as virtual reality (VR) art installations while expanding on the early successes of our Online Studios.”

As an extension of the Online Studios experience, The Other Art Fair launched a special Guest Artist program, which has been a highly popular feature, showcasing artworks by Rolling Stones legend Ronnie Wood and Actor/Comedian Noel Fielding. The Other Art Fair will also be introducing additional programming this Fall, including a “Spotlight City” series that highlights emerging artists in up-and-coming, trending art communities. Detroit, Kansas City and Seattle will be among some of the first markets to be launched.

For more information about The Other Art Fair’s Online Studios, please visit here.

About The Other Art Fair
The Other Art Fair, a leading artist fair for discovering emerging artists, provides a platform for artists to present and sell their work directly to art buyers. Each fair presents more than 90 artists chosen by a selection committee of art experts, enabling both collectors and first-time buyers to buy directly from emerging artists. Since 2011, The Other Art Fair has worked with over 3,000 artists from more than 20 countries, with fairs based in the UK, US and Australia. Unlike “other” fairs, The Other Art Fair creates an accessible and open fair designed for visitors to enjoy an interactive and immersive experience. www.theotherartfair.com

About Saatchi Art
Leading online art gallery Saatchi Art features one of the world’s largest selections of original art and helps people all over the world find art and artists they love. The online art gallery offers original paintings, drawings, sculptures and photographs by over 100,000 emerging artists from over 100 countries. Saatchi Art is redefining the experience of buying and selling art by providing art lovers with free art advisory services and an expertly curated selection of art, while giving artists a convenient and welcoming environment in which to exhibit and sell their work. To discover the world of Saatchi Art, please visit www.saatchiart.com. Saatchi Online, Inc., which operates Saatchi Art, is a wholly owned subsidiary of Leaf Group Ltd. (NYSE: LEAF).

About Leaf Group
Leaf Group Ltd. (NYSE: LEAF) is a diversified consumer internet company that builds enduring, creator-driven brands that reach passionate audiences in large and growing lifestyle categories, including fitness & wellness (Well+Good, Livestrong.com and MyPlate App), and home, art & design (Saatchi Art, Society6 and Hunker). For more information about Leaf Group, visit www.leafgroup.com.

Media Contacts:
Sharna Daduk
VP, Communications
sharna.daduk@leafgroup.com

Mia Mendez
Director of PR
mia.mendez@leafgroup.com

FAQ

What is the Gross Transaction Value generated by The Other Art Fair's Online Studios?

The Online Studios has generated over $1 million in Gross Transaction Value since its launch in April.

How many artists participated in The Other Art Fair's Online Studios?

Over 90% of artists scheduled for the Spring fair participated in the Online Studios.

What kind of programming does The Other Art Fair's Online Studios feature?

The Online Studios features curated collection displays, live artist workshops, virtual tours, and in-studio profiles.

What future initiatives does The Other Art Fair plan to introduce?

Future initiatives include integrating virtual reality art installations and a Spotlight City series featuring emerging artists.

Which cities will be highlighted in The Other Art Fair's Spotlight City series?

Detroit, Kansas City, and Seattle are among the first cities to be featured in the Spotlight City series.