DGAP-News: artnet AG / Key word(s): Quarter Results/Development of Sales 
artnet AG: Strong Growth at Artnet Auctions Continues in the First Quarter 
2021-05-10 / 08:30 
The issuer is solely responsible for the content of this announcement. 
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Strong Growth at Artnet Auctions Continues in the First Quarter 
- Fee-based Revenue of Online Auction Platform up 25% Year-Over-Year 
- Gallery Network Increases Memberships and Revenue 
- Average Monthly Visitors up 35% at 6.2 Million 
- Paywall Artnet News Pro Creates Additional Revenue Stream 
Berlin/New York, May 10, 2021-Berlin-based Artnet AG, the leading provider of art market data and online-only fine art 
auctions, increased its revenue and media reach in the first quarter of 2021. Fee-based revenue at Artnet Auctions rose 
by 25% year-over-year to 1.2 million USD, continuing on a strong growth trajectory and setting a new revenue record for 
a first quarter. Top lots in the first quarter included several works by the iconic American artist Jean-Michel 
Basquiat. In January, his screenprints Head; Per Capita: Ernok; Rinso (complete set of 4 works) sold for 300,000 USD. 
Artnet achieved the same price in March for Basquiat's monumental work on paper Untitled (1981), a large-scale drawing 
of a car motif. 
The Gallery Network achieved a turnaround. Its quarterly revenue increased by 4% to 1.3 million USD due to a higher 
number of memberships and a drop in cancellations. "Galleries depend on the Internet for sales and marketing more than 
ever," said Artnet CEO Jacob Pabst. "Membership in the Gallery Network provides a strong online presence, enables 
global transactions online, and supports the efficient management of inventory with our unique inventory management 
system." Artnet introduced the Artist Alerts last year to help drive traffic to gallery members. Prospective buyers 
receive customized email alerts about their favorite artists. The number of Artist Alerts subscribers continues to 
grow, driving qualified inquiries to gallery members. 
Price Database revenue increased slightly by 3% to 1.9 million USD in the first quarter. After the auction market's 
drastic downturn in 2020, the online auction database benefited from the overall recovery of the art market and an 
increase in monthly subscribers. An upturn in auction activity increases the demand for market data, as the Price 
Database's highly reliable auction results are an indispensable research tool for art market participants. 
Advertising revenues fell 23% to 849k USD in the first quarter. Luxury brands and art businesses had not restarted 
their advertising campaigns in the first quarter after last year's sharp cuts. Artnet expects a strong rebound in the 
current second quarter. "The strong growth in traffic to Artnet's webpages, particularly at Artnet News, will further 
accelerate the recovery in advertising revenue over the course of the year," said CEO Pabst. In May 2021, Artnet also 
introduced Artnet News Pro, a paywall for selected news articles, to generate another revenue source in the segment in 
addition to advertising. 
The number of visitors to Artnet's website surged 35% in the first quarter of 2021 to an average of 6.2 million per 
month - up from 4.6 million in the first quarter of 2020. "Artnet is driving the digital transformation of the art 
market and enables customers to gain a singular reach online and on social media," said Pabst. 
Artnet's total revenue in the first quarter increased by 2% to 5.2 million USD year-over-year. Management confirms the 
forecast published in the Annual Report 2020. 
The Quarterly Interim Statement for the First Quarter of 2021 is available at artnet.com/investor-relations/ 
quarterly-reports 
About Artnet 
Artnet is the leading resource for buying, selling, and researching art online. Founded in 1989, Artnet's suite of 
industry-leading products has revolutionized the way people discover and collect art today. 
The Price Database contains more than 14 million auction results from 1,900 auction houses dating back to 1985, 
providing an unparalleled level of transparency to the art market. The Gallery Network platform connects leading 
galleries with collectors from around the world, offering the most comprehensive overview of artworks for sale. Artnet 
Auctions was the first dedicated online marketplace for fine art, providing a seamless and efficient collecting 
experience for both 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. Artnet AG is listed in the Prime Standard of the Frankfurt Stock 
Exchange, the segment with the highest transparency standards. 
ISIN: DE000A1K0375 
LEI: 391200SHGPEDTRIC0X31 
Contact: 
Sophie Neuendorf 
sneuendorf@artnet.com 
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2021-05-10 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 
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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:  1194206 
 
End of News   DGAP News Service 
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1194206 2021-05-10


 
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(END) Dow Jones Newswires

May 10, 2021 02:31 ET (06:31 GMT)