Introduction
This paper will study and analyze the article “Four Business Models in Contemporary Art” by Moureau & Sagot-Duvauroux (2012). The authors identified two main approaches to the study of contemporary art: innovation and process. These principles became the basis for defining the four types of artists and developing the business models for their promotion.
Synopsis of “Four Business Models in Contemporary Art”
The purpose of the article is to explore artists’ paths to success. The authors interviewed more than 60 artists in five regions of France and developed two main criteria: innovation versus traditional art and artwork versus project (Moureau & Sagot-Duvauroux, 2012). Based on these criteria, all artists were divided into four groups: salon, artisan-entrepreneur, 360°, and art fair. The primary standard for salon artists’ and artisan entrepreneurs’ success is their commercial sales. 360° and art fair artists associated with innovation in the arts must obtain legalization from industry organizations and institutions before they can claim commercial success.
In addition to the impact of innovation on artist promotion, Moureau & Sagot-Duvauroux (2012) consider an approach to the artwork process. For instance, the artworks economy focuses on the object of art, and its value, which is determined in galleries and salons. In the economy of the project, the task is not to sell the final product but to find funding for the artist’s work.
As each artist requires a different approach to career advancement, four business models of contemporary art were formed: business models centered on innovative art, business models centered on traditional art, and models centered on the artwork and on the project. The authors concluded that defining the artist’s role, choosing the exact strategy for his or her promotion, and building the proper communications with art market participants will contribute to a more effective and faster growth of the artist’s career.
Application of “Four Business Models in Contemporary Art”
Moureau & Sagot-Duvauroux (2012) provide an accurate comprehension of the processes that connect contemporary art to the market. This knowledge will help me to choose the right strategy for commercial gain and professional development in the art market. Depending on the role of the artist, there are two possible approaches to promoting art as a form of business. The first variation focuses on the sale and resale of paintings or sculptures. The second variation centered on the interaction with artists through the implementation of projects and the search for investors.
It is necessary to say that Moureau & Sagot-Duvauroux (2012) use the term “innovation” as a synonym for the creative avant-garde and not as an economic innovation. Thus, all four business models focus on the value of art but overlook other economic opportunities offered by a broader range of artistic practices and forms. It can be applying new digital solutions in marketing and sales or the creative diversification strategy widely used to attract new clients (Sutermeister, 2018). An example of a diversification strategy can be concerts in art galleries and exhibitions in theaters. However, the authors do not provide an analysis of these processes.
Conclusion
The art market is a multifaceted and complex mechanism, where the main product is the emotional, sensual pleasure of the client. Four Business Models in Contemporary Art analyzes the processes that connect creativity and economic processes, giving clear definitions of possible business strategies. However, while the authors carefully analyze innovation in art, they focus on the creative process rather than the economic innovation that is taking over the art market.
References
Moureau, N., & Sagot-Duvauroux, D. (2012). Four business models in contemporary art. International Journal of Arts Management, 14(3), 44-56.
Sutermeister, A. C. (2018). Innovative business models: An opportunity for the cultural sector? Bringing together the logics of public service and business. Beyond EYCH, 181-194.