Update: Gaining luxury advertisers
Q215 results showed good progress expressed in euros, with the currency translation restraining reported performance in US dollars. artnet News is becoming well established as a prime source of market information, with monthly unique visits averaging 1.3 million over the first six months. It is expected to become self-sustaining by the year end. The higher traffic is helping drive advertising revenues from vendors of luxury goods, lifting the performance of the Gallery segment in both revenue and margin. Costs in H115 have been kept well under control and full-year guidance remains consistent with our projections.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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