The Art industry encompasses a large variety of talent, ranging from physical paintings and literature to the performing arts and theater performances. Whether consumers prefer a timeless visual to be on display in their homes, or enjoy the entertainment value of a popular performance, the art industry offers lucrative opportunities to develop your art domain in many areas.
The U.S. performing and creative arts sector is currently $27.1 billion industry, and is expected to increase by an average annual rate of 1.3% over the next four years. The revenue potential for businesses surrounding this industry will grow as well to nearly $30 billion by 2017, making this an ideal time to purchase an art domain.
The U.S. art dealing segment also offers a lucrative opportunity with revenues currently at $8.8 billion and expected to grow by a significant 4.0% over the next four years. By 2017, revenue for the U.S. market is forecasted to reach $10.7 billion, representing a increase in discretionary spending on art purchases.
As the art market grows in the U.S., there is simultaneously considerable expansion globally as well. With the proliferation of the internet and the reach that it offers, there has been a noticeable change in the way art is purchased and shared. Traditional art auctions have experienced a transition to online productions, and people around the world have access to artwork they may not have even been aware existed. With over half of all art purchases taking place online today, the way consumers are purchasing art is evolving and a clear trend in art ecommerce on art domains is emerging.
Given the extensive global market, an art domain has endless development potential. In order to compete successfully in the art market today, it's important to not only be recognized locally, but all across the world. Whether you are interested in selling performance tickets online, running an art auction, or building awareness of your own artwork, an art domain offers a significant advantage for your business.