Monetizing the ART$
Mentor:Stephen Koletty, Adjunct Professor, Marymount Palos Verdes
Today’s gallery owners face the challenge of monetizing the art in the world of the 21st Century. With installations, multimedia, and performative artwork becoming a prominent aspect in the world of art, the purveyor’s of today’s artwork must evolve their practices in order to meet the demands of the modern patrons. There has not been much study on how purveyors of art have been forced to progress their practices in this contemporary world. How do purveyors of art (galleries) generate revenue, in this technological world? My research examines how art has been monetized in traditional ways, including standard purveying of framed art, commissioning, and exhibition ticket sales. More specifically it will examine the innovative and new ways to monetize art, including (but not limited to), video and film, online media, design, events, and other more high-tech methods of monetizing intellectual and creative property.