The First Art Newspaper on the Net   Established in 1996 Tuesday, November 24, 2020

4 reasons art means business

Art and business have an uneasy but rich relationship.

For instance, both rely on creativity, innovation and risk taking in order to thrive.

With that in mind, here are four reasons why art means business.

1. It’s popular
Art is a discipline that has well and truly stood the test of time, but why? The answer’s simple – people love it and it enriches their lives. And likewise, business is all about providing people with the things they want and need.

Just look at American artist Jeff Koon’s rabbit sculpture which was recently auctioned off for a whopping $91.1 million – a record price for a living artist.

There’s clearly a consumer appetite for art and this goes to show that a creative field can still be highly profitable.

2.Art galleries
People not onlyspend their money on purchasing art, but they’re also happy to pay for the privilege of gazing at it.

Some of the world’s most popular art galleries, such as the Louvre and Metropolitan Museum of Art, charge an entry fee.

And enigmaticmatsterpieces like The Louvre’s Mona Lisa remain cultural icons centuries after they’re created, meaning they’ll attract fascinated visitors far into the future.

3.Online platforms
The internet provides artists with access to huge audiences, which means making a decent living from full-time artis now a more viable option than it once was.

For example,crowdfunding site Patreon provides a space for creators to showcase their work to fans, who can show their appreciation through a monthly payment subscription.

It’s an ideal place to find inspiration for your work, as you can interact directly with your fans, find out what they want and give it to them.

4.Street sales
Artists who value a face to face interaction can rent out a stall and take their work to the streets.

Since art is most effectively marketed visually, by presenting you work in a public space, you’re increasing your chances of catching the eye of an interested party.
And you don’t actuallyhave to sell your work on the streets to get your name out there. Just look at Banksy, who has made a handsome living from art and become world famous despite effectively donating most of his work for free on city streets around the globe.

5. Becoming an art entrepreneur
Art and business are clearly becoming increasingly interlinked, so if you’re gifted in producing creative pieces, it makes sense to capitalise on your talent.

If you’re nervous about setting up shop, consider studying for a business qualification such as an MBA (Master of Business Administration) from online educator Anglia Ruskin Distance Learning. This way, you’ll be perfectly prepped to profit from your hard work by combining commercial and creative expertise.

Share your thoughts on the relationship between art and business in the comment section.

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4 reasons art means business

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