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ARTS INVESTMENT NEWS

  Public and Private Funding

 

'Stagnant' cultural institutions could suffer in 2012 says Canadian Heritage Minister.

The Vancouver Sun, 30 Dec 2011

 

Kickstarter – A Leader in Funding 'Creative Independence' through Crowdsourcing. Technology Profiles, 29 Dec 2011

 

The government St. Lucia has appointed a new minister of tourism with responsibility for heritage and creative industries.

New York Amsterdam News, 29 Dec 2011

 

The Portuguese city Guimaraes refreshes its arts scene as it takes on the status of European Capital of Culture, together with Maribor in Slovenia, in 2012.

Deutsche Welle, 29 Dec 2011

 

Looking at the relationship between major sponsorships and the arts.

The Independent, 29 Dec 2011

 

Create, share, fund, review: the new online world of culture.

The Irish Times, 29 Dec 2011

 

Scheme to boost cultural activities in Malta in 2012.

The Malta Times, 29 Dec 2011

 

Innovative Funding Strategies Keep New Media Artists Afloat.

Art Info, 29 Dec 2011

 

The next government of Hong Kong is likely to create a bureau to promote its cultural industry.

Hong Kong News Watch, 29 Dec 2011

 

Azerbaijan’s President forms a ‘superdirectorate’ of cultural, historical and ethnographic reserves.

Azerbaijan Business Center, 29 Dec 2011

 

European Union proposes world's largest ever cultural funding programme.

The €1.8bn allocated for culture comes at a time of worsening economic crisis across the Eurozone.

The Art Newspaper, 21 Dec 2011

 

BP pledged another 10 million pounds of funding to four well-known London museums and art galleries.

Over the next 5 years, the money will go to the Royal Opera House, Tate Britain, the British Museum and the National Portrait Gallery, the company said.

Reuters UK, 19 Dec 2011

 

New budget plan cuts NEA and NEH 5.6% but boosts Smithsonian.

The National Endowment for the Arts and National Endowment for the Humanities each will see a 5.6% budget reduction in fiscal 2012. 

Los Angeles Times, 19 Dec 2011

 

UN-backed international centre for women in arts to open in Jordan.

The “genius of women artists from around the world” will be the main focus of the United Nations-backed International Centre for Women Artists (ICWA), a museum and arts education project that will open in Jordan next year.

UN News Centre, 16 Dec 2011

 

Taiwan’s presidential candidates expound cultural policy ideas.

Current President Ma Ying-jeou said the government has set up the Cultural Development Fund, a special fund to help the culture sector which is more flexible than the government budget.

Taiwan News, 15 Dec 2011

 

How the Rich Spend.  

At Sotheby's, a business contract sold for "$1,594,500, with six bidders vying fiercely for it.

The ArtsJournal, 14 Dec 2011

 

UK Treasury rules stop museums spending donors’ cash.

National museums reluctantly set up trusts to help gain access to their own reserves.

The Art Newspaper, 14 Dec 2011

 

The UK Tate Galleries may not renew BP sponsorship deal after environmental protests. Director of group that covers four galleries around UK says decision is due on partnership deal with BP, expiring next year.

The Guardian, 13 Dec 2011

 

Ireland’s arts sector takes funding hit.

Next year’s budget allocation for the Irish Arts Council will fall by 3.2% to €63.1 million (£53.8 million) as the country seeks to curb public spending in response to continuing economic difficulties.

The Stage, 12 Dec 2011

 

Should the arts be more selective about sponsors?

A debate on the withdrawal of two poets from a prize shortlist last week in protest at its hedge fund sponsor.

The Guardian, 10 Dec 2011

 

Curtain Could Fall On A Dazzling Arts Center In Spain.

Opened in March this year, the Niemeyer Center for the arts in Aviles, a dazzling museum that has hosted sold-out performances by Kevin Spacey and Woody Allen, is slated to close on Dec. 15, after barely nine months of operation, because of regional budget cuts.

NPR, 14 Dec 2011

 

The Miami Art Museum will be renamed the Jorge M. Pérez Art Museum of Miami-Dade County after a $35 million gift from the developer.

Joining the ranks of major givers in Miami, developer Jorge Pérez has pledged to donate $35 million in cash and art from his personal collection to the new Miami Art Museum, which will bear his name when it opens in two years.

Miami Herald, 02 Dec 2011

 

Study: Free Admission To UK Museums Has Doubled Attendance.

Government-sponsored museums that have stopped charging since 2001 have seen combined visitor rates more than double in the past decade, figures show. Almost 18 million people visited the 13 attractions in 2010-11, compared with 7 million in 2000-01.

BBC, 01 Dec 2011

 

Canadian Government shifts money from bureaucracy to the arts.

Heritage Minister James Moore told the Canadian Heritage committee Thursday that the arts are good for the economy, while pointing out that Canada is the only G8 country that actually increased funding for arts and culture during the recession.  As an economic generator, arts and culture industries are worth $46 billion, and employ 4 per cent of Canadians.

CBC News, 01 Dec 2011

 

Creative Industries and Economic Impact

 

Inuit film is struggling.

The Globe and Mail, 30 Dec 2011

 

Cultural industries in Jamaica show impressive earning capacity.

Jamaica observer, 29 Dec 2011

 

Growth of China's creative industries sector draws overseas returnees. Channelnewsasia.com, 29 Dec 2011

 

U2 is top touring band in 2011 with $232M in ticket sales.

 

Big Disruption in Book Industry In 2011.

USA Today, 29 Dec 2011

 

Lack of Government Funding for Thai Films.

The Bangkok Post, 28 Dec 2011

 

India-Japan Joint Statement on Enhancing Strategic & Global Partnership – creative industries.

The countries’ two Prime Ministers expressed their expectation that the strengthening of cooperation in creative industries, which range from design, apparel, fashion, food, house-hold goods, music, movies, animation and manga, and traditional craft, would further promote and deepen mutual understanding of the two countries. NetIndian.in, 28 Dec 2011

 

Film Industry Revives in Former Yugoslavia.

The New York Times, 28 Dec 2011

 

Otis Report: L.A.'s 'creative economy' loses thousands of jobs.

The Otis Report's 2010 economic study of Los Angeles and Orange County's arts and entertainment industries detail employment declines as well as some gains in average pay in some fields.

Los Angeles Times, 20 Dec 2011

 

Creative Industry Development Part of Nigeria’s 2012 Budget.

In presenting the 2012 appropriation bill, the President to the National Assembly of Nigeria states that more attention will be given to the country’s creative industries in order to further develop the sectors known to be sources of growth and job creation.

This Day Live, Nigeria, 19 Dec 2011

 

E-book prices spark global discussion between publishers and retailers.

The issue of e-book prices has sparked a global controversy as publishers lock horns with book retailers over how much consumers should pay.

CBC News, 16 Dec 2011

 

Brick-And-Mortar Bookstores See Rise In Customers.

Facing economic gloom and competition from cheap e-readers, brick-and-mortar booksellers  in the States were surprised to find that the initial weeks of Christmas shopping  have yielded surprisingly strong sales for many bookstores.

The New York Times, 13 Dec 2011

 

BBC radio programmes pass one billion downloads.

More than one billion BBC radio programmes have been downloaded since the launch of the corporation's podcast service in 2007, it has been announced.

BBC, 12 Dec 2011

 

Wages in Brazil’s creative industry sectors such as professional

television, music, cinema, advertising and architecture are 45% higher compared to wages in other sectors.

Administradores, Brazil, (in Portuguese) 12 Dec 2011

 

Video Advertising Grows Despite Economy Downturn.

Marketers remain keen on buying commercial time during video programming despite the uncertain outlook for the economy.  The New York Times, 08 Dec 2011

 

Creative Industries Fund to be launched in Macau in 2012.

The long-awaited fund for the development of cultural and creative industries will be created next year, the secretary for Social Affairs and Culture told lawmakers on Friday during the second day of debate over his 2012 Policy Address.

Macau Daily Times, 05 Dec 2011

 

Film Financing’s Global Future.

Increasingly, sophisticated filmmakers who once relied on American studios for backing are turning to a globe-straddling independent finance system for their most expensive projects.

The New York Times, 05 Dec 2011

 

 

Art Market

 

Wealth brings art to Delhi's new gallery district.

India's art market is still in its infancy, with sales accounting for an estimated one percent of the global art market, which is valued at around $40 billion, but experts expect it to grow sharply.

AFP, 31 Dec 2011

 

2011 was a year of blockbuster art shows and rising Chinese power in the art world. Business Ghana, 31 Dec 2011

 

Roller coaster year for Indian art: 2011 in retrospect.

The Times of India, 30 Dec 2011

 

Art market puts stocks on the canvas in 2011.

The Mei Moses’ All Art Index rose 10.2% in 2011, compared with a 16.6% increase in 2010.

Market Watch, 30 Dec 2011

 

Rich investors take refuge in contemporary art.

The market in contemporary art surged by 35 per cent in this year's auctions as an influx of wealthy buyers sought refuge from financial turmoil.

New Zealand Herald, 30 Dec 2011

 

The art market: Record breakers and fakers. A round-up of high and low points for the sector during the past year.

The Financial Times, 30 Dec 2011

  

Single-owner sales rescue art market.

The Australian, 29 Dec 2011

 

India’s art market and an outlook on its arts sector in 2012.

Hindustani Times, 29 Dec 2011

 

Gerhard Richter Tops Art World's Changing Market.

Huffington Post, 28 Dec 2011

 

At the very upper edge of the art market, collectors are increasingly comfortable shelling out major money for some art works.

Gallerist New York, 28 Dec 2011

 

The misleading security of investing in Art. Die trügerische Sicherheit der bemalten Leinwand (in German).

Financial Times Deutschland, 28 Dec 2011

 

L'année du marché de l'art en France – Bilan 2011. (in French)

Art Price, 27 Dec 2011

 

Hirst, Warhol Prices Outperform S&P 500 in Art Index.

Art by Damien Hirst and Andy Warhol outperformed the Standard & Poor’s 500 index over the past 10 years, according to a new measure by Artnet AG designed to rank the performance of art as an asset. Bloomberg, 21 Dec 2011

  

The global art investment fund market has grown from 760 million USD in 2010 to 960 million USD in 2011.

Along with the demand of high net worth individuals for a more balanced portfolio, there has been recent growth in the global art market.

Luxembourg for Finance, 20 Dec 2011

 

Mapping Profits: Cartography and Fine Art Investment.

Investing in antique and rare maps can provide attractive returns.

CNBC, 20 Dec 2011

 

Investors calm down at 2011 autumn auction.

The overheated situation in the Chinese auction market has been improved and the market becomes reasonable and mature increasingly. Structural adjustment is on the way. Capital from various sources enters the market.

Chinese Economic Daily, 20 Dec 2011

  

As markets plunge, Asia's wealthy flock to art.

Despite giddy Chinese art prices showing some strain from global economic uncertainty, collectors think values will continue to rise due to limited supply and continued strong demand as Asian collectors become more affluent.

Reuters (Hong Kong), 19 Dec 2011

 

The Chinese art market cooled this fall after several boom years.

The autumn auction season brought in 40 billion yuan, a drop of 6.6 percent from the spring season's 42.84 billion yuan. China Daily, 19 Dec 2011

 

Art falls prey to commercialism.

Pakistan Today, 18 Dec 2011

 

Asian art turns from plaything of Hong Kong's young rich into money-spinner.

Demand for high-end Chinese art booms as the growing number of millionaires seek alternative investments.

The Guardian, 18 Dec 2011

  

Chinese Boost Art-Market Presence.

Wall Street Journal, 16 Dec 2011 

 

A Deep Look At The Growing Global Marketplace For Art As An Investment.

Deloitte Luxembourg and art market research firm ArtTactic just released a major report looking at the early stages of an art and finance industry around the world, and conclude that the art market is going through a major transformation.

Business Insider, 15 Dec 2011

   

UK parliament launches new Arts Index to provide an annual health check on the arts measuring everything from financial investment to audience numbers.

The Guardian (blog), 05 Dec 2011

 

Why is Art so Damned Expensive?

Despite the flatlined economy, the art market has been roaring. In the first half of this year, total worldwide art sales hit a record of €4.3 billion ($5.8 billion), up 34 percent from 2010, according to the French Web site Artprice.com. The Daily Beast/Newsweek, 05 Dec 2011

 

Pioneers of Art Basel Miami Beach take stock on how the fair and its satellites defied the sceptics.

The Art Newspaper 03 Dec 2011

 

Saatchi's scathing portrait of the art world might have impact on a buoyant contemporary art market.

Leading British collector Saatchi launches surprise attack saying buyers and dealers 'can't tell good artists from bad'.

The Guardian, 02 Dec 2011

 

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