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artnet AG: Artnet Revenue Grows 15% to 12 Million USD in First Six Months of 2021

DGAP-News: artnet AG / Key word(s): Half Year Report/Development of Sales artnet AG: Artnet Revenue Grows 15% to 12 Million USD in First Six Months of 2021 16.08.2021 / 08:30 The issuer is solely responsible for the content of this announcement. Artnet Revenue Grows 15% to 12 Million USD in First Six Months of 2021

- All Segments Report Growth in The First Six Months of 2021

- Advertising Revenue up 25% After Return of Luxury Brands

- Artnet Auctions Continues Record Streak

- Traffic Surges by 23% to Almost 6 Million Monthly Users

Berlin/New York, August 16, 2021 - Berlin-based Artnet AG, the leading provider of art market data and online-only fine art auctions, grew total revenue by 15% to 11.9 million USD year-over-year in the first six months of 2021, led by continued strong growth of online auctions and a swift return of advertisers to the site. "Artnet is the most visited website in the art world, attracting millions of visitors every month. Additionally, collectors are increasingly turning to our online Auctions for faster and efficient sales of high-value artworks", said Jacob Pabst, CEO of Artnet.

Fee-based revenue at Artnet Auctions rose by 23% year-over-year to 3.0 million USD, continuing a record streak and establishing the online auctions business as the second-biggest revenue source behind the Price Database, the company's core segment. The average price for lots sold increased by 24% to 17.900 USD. In May, Frank Stella's painting Rozdol I (1973) sold for 1.1 million USD. Top lots in the second quarter also included Andy Warhol's Campbell's Soup Cans II (1969), a complete series of 10 screenprints sold for 456,000 USD and Spring Intensity (2008), a butterfly painting by Damien Hirst, which achieved 600,000 USD.

Price Database revenue rose by 5% to 3.9 million USD in the first six months. The Price Database is the essential art research tool and the industry's gold standard. In light of the global auction market's recovery, the demand for data research on the platform also picked up. The growing demand and rising subscriber numbers underscore art market participants' trust in the Artnet brand and their unabated desire for price transparency.