Update: A brush with success
Following a year of investment and reorientation in FY14, artnet had good success in FY15 in turning its Gallery segment back into growth and in building strong web traffic – and hence group advertising revenues – with artnet News. In US dollar terms, FY15 group revenues were up 4% y-o-y, with currency swelling this to a 24% rise in euro terms. This implies a strong Q4, following top-line reported growth of 1% for Q1-Q3. The shift in mix is helping gross margins and with stable operating costs in US dollars, artnet has marched forward into profitability, with further progress forecast for FY16 and FY17.Artnet is engaged in the business which provides art collectors, galleries, publishers, auction houses, and art enthusiasts with a website where individuals can research artists and art prices, and find artworks that are available in artnet Galleries or on artnet Auctions. Co. operates within four segments: the artnet Galleries, which presents artwork from member galleries' online; the artnet Price Database, which comprises all database-related products; artnet Advertising, which produces banner as well as national and international advertising on the website; and artnet Auctions, which provides a platform to buy and sell artworks online.
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