Press statements

  • 13 /05 2015

    Artnews S.A. Consolidates Artnews Ltd and Establishes Artnews Ventures



    Michael Hecker Joins the Supervisory Board

    May 13, 2015 – New York – Warsaw — Artnews S.A., the Warsaw-listed owner of the  Artnews and the Skate’s media properties in New York and the Art & Business media property in Poland, announces a number of corporate actions.

    On May 13, 2015, Artnews S.A. completed the consolidation of Artnews Ltd, thepublisher of the 113-year-old Artnews magazine and, byincreasing its ownership interest in Artnews Ltd from 98.25% to 100%.

    On May 13, 2015, Supervisory Board of Artnews S.A. authorized creation of theArtnews Ventures SA, a wholly-owned special purpose vehicle created to financefurther acquisitions and facilitate the further expansion of Artnews in Europe. Thefirst significant transaction to be made by Artnews Ventures SA is to be announcedby the end of May.

    “With the Artnews brand turnaround completed in less than a year and the Q2 2015being our first profitable quarter in the US, we are ready to add more scale to ourbusiness,” commented Izabela Depczyk, Chief Executive Officer of Artnews S.A.

    Artnews S.A.’s shareholders have elected Mr. Michael Hecker, a Berlin-based telecom and media executive, to the Supervisory Board to replace Mr. Norman Hansen, Next Media Group’s representative to the Board (Next Media exited its investment in Artnews earlier this year). Mr. Hecker joined the Artnews Supervisory Board effective as of May 4, 2015.

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  • 27 /04 2015

    Artnews Turnaround Completed Firm Will Report its First Profitable Quarter 6 Months Ahead of Schedule


    April 27, 2015, Warsaw – New York, — Artnews S.A., the Warsaw-listed global art media company with its primary sales and editorial office in New York, has changed the guidance for its first profitable quarter from Q4 2015 to Q2 2015 as the advertising sales in the US across both Artnews print and digital platforms exceeded expectations. The advertising campaigns for New York’s MOMA, Berlin’s Auctionata and San Francisco’s eBay among others, the launch of Skate’s Art Finance Center and a consistent, over 10%, month-to-month digital audience growth all contributed to better than expected digital revenues, leading to a revised profit guidance. Artnews S.A. will publish its first half and second quarter results on Friday, August 14.

    “This has been a thrilling year as we completely re-launched Artnews print and digital properties, re-built our sales team to focus on selling comprehensive marketing campaigns to A-list advertisers and integrated Artnews with Skate’s art business intelligence unit and low cost production and digital marketing base in Warsaw”, — commented Izabela Depczyk, CEO of Artnews S.A. who led the acquisition of Artnews LLC from Milton Esterow and his family in spring of 2014. “While there is still a lot of work ahead of us, we are proud to report this turnaround milestone for the legendary Artnews brand and score the first profitable quarter six months ahead of schedule”, commented Ms. Depczyk.

    Artnews S.A. turnaround included the reduction of headcount in New York from 29 to 14, the introduction of powerful creative and digital marketing units in Warsaw to support Artnews print and digital properties, and the move to create an integrated editorial team capable of producing both print and digital products and combine the best-in-class Artnews art journalism with the world’s leading art business intelligence from Skate’s.

    Following two rounds of equity financing completed in February of 2014 and February 2015, Artnews S.A. reduced its interest expenses from 10.5% to 9% per annum and emerged as one of the most dynamic listed companies at the NewConnect segment of the Warsaw Stock Exchange.

    Artnews also became the exclusive media partner to the Polish pavilion at the Venice Biennale this year with the local title Art & Business published by Artnews providing a unique coverage of the Venice Biennale for the booming audience of the Polish existing and aspiring art collectors.

    “The management team did wonders with the Artnews and Skate’s brands – during the next Artnews shareholders meeting we will decide on where we go next”, commented Brian McConville, Vice-Chairman for Artnews S.A.

    About Artnews S.A

    Artnews S.A. is the world’s leading print and the fastest growing online art media business with its media properties including the ARTnews and the Art & Business monthly print magazines, the and the digital properties and Skate’s art business intelligence unit. Artnews S.A. is listed on the NewConnect floor of the Warsaw Stock Exchange and has its primary operations in New York, USA via Artnews Ltd.

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  • 08 /04 2015

    ARTNEWS S.A.: Capital Markets Transactions and New Product Launches


    April 8, 2015 – Warsaw, Artnews S.A., the world’s leading art media company listed in Warsaw, Poland, with its primary operations in New York, announces its latest corporate actions and new product launches.

    On Friday, March 27, 2015 Artnews S.A. successfully completed a PLN denominated, domestic bond placement raising PLN 3 million Polish Zlotys for a term of 18 months at the lowest interest rate in the 4 years’ borrowing history of the Company (8.95 percent per annum). All of the proceeds went to retire higher interest debt of Artnews S.A., including a timely repayment of funds to 31 bondholders who selected to redeem their bonds on Friday, March 27, 2015.

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  • 05 /03 2015

    ARTNEWS S.A. Remains the Fastest Growing Art Media Company in the Digital Space


    The Company Introduces Print Subscription Price Increase and Will Reveal Premium Subscriber Offer at ARTNEWS Event during Frieze New York

    New Roster of A-List Advertisers Vets ARTNEWS’s Digital Strategy

    March 4, 2015, New York – Warsaw, — ARTNEWS S.A., the world’s leading art media business, maintained its leadership as the fastest-growing art media company in terms of digital audience based on the three-month period ending January 31, 2015. According to SimilarWeb data for this period, remains the fastest-growing site in its category with a 33% growth of average monthly unique users, with all of its primary competitors trailing behind (Artsy 30%, Art in America 25%, Artforum 23%, artnet 21%, Artron 20%, Hyperallergic 19%, Blouin Artinfo 7%, and the Art Newspaper 1%).

    The primary asset of ARTNEWS S.A., was also the world’s fastest growing in terms of stickiness (measured with page views per session) with the average page views growing by 29% over the same three-month period.

    “We promised ARTnews’s readers and advertisers the best and fastest-growing art media platform—and we delivered,” commented Izabela Depczyk, CEO of ARTNEWS S.A. “Our infographics functionality and polls debuted in February and generated an enormous level of engagement from our audience, and some exciting new features will be added to our offering this spring,” added Ms. Depczyk.

    ARTNEWS has integrated its best-in-class art journalism with Skate’s Art Market Research—the world’s most sophisticated art-business intelligence and data—all powered by focused and continuous digital marketing across all platforms, including social networks. Following last year’s restructuring of ARTnews, which transformed the 113-year-old, family-run, American business into a truly global organization, the new ARTNEWS S.A. now operates 18 hours a day from two locations, New York and Warsaw, with the stage being set for a substantial upgrade of ARTNEWS S.A.’s European offering later this year.

    This digital expansion starts to pay off with a number of significant advertising campaigns being sold within the new “360 Degrees Marketing” ARTNEWS S.A. campaign offering, which includes ads in print, online, and across social networks, as well as custom events for large corporate advertisers. Sotheby’s, Bonhams, eBay, Invaluable, Auctionata, and a few other top advertisers expanded their digital marketing programs with ARTNEWS S.A. in Q1, 2015, recognizing the efficiency of ARTNEWS S.A.’s multichannel marketing solutions and its growth leadership online.

    “With the ARTNEWS S.A. brand strengthened and the investment and modernization completed in 2014, management can now tackle the issue of profitability, and we are firmly on schedule to achieving operating profitability this year, with the economics of print being our key area of focus,” commented Cezary Klimont, CFO of ARTNEWS S.A.

    ARTNEWS S.A. announces a 25% price increase for its print magazine subscription as of May 1, 2015. The newsstand price will also increase as of the same date, reflecting the significantly upgraded quality of ARTnews magazine, which went through a complete overhaul in September 2014.

    “We encourage new readers and our long term subscribers alike to stay tuned for our annual Top 200 issue in the summer, our forthcoming editorial plans, and the Premium Subscriber Offer we will reveal at Frieze in May, and to continue to watch our pages and our website for the best in art journalism,” commented Sarah Douglas, Editor-in-Chief of ARTnews magazine.

    About Artnews

    ARTnews magazine has been published in New York since 1902. Since 2014 ARTnews Limited, the publisher of ARTnews magazine, is a fully owned subsidiary of the Warsaw Stock Exchange–listed company ARTNEWS S.A., whose other assets include, Skate’s (art business intelligence unit), and Art & Business magazine (lifestyle and luxury print and digital media properties in Polish). ARTNEWS S.A. is also the third-largest shareholder in Germany listed artnet AG.




    [1] Three-month period ending January 31, 2015, compared to average for the previous three-month period (ending October 31, 2014)

    [2] For complete statistics based on SimilarWeb and other sources check out Skate’s Spring Art E-Commerce & Media Report to be released on March 16, 2015

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  • 13 /02 2015

    Artnews S.A. Reports PLN 20.2m (US$ 6.3m) in Revenue, Beats Forecast. Net Income of PLN 0.53m (US$ 0.16m) in Q4, 2014. Ad Sales Mix Successfully Shifted to Luxury and Art E-Commerce. Artnews S.A. Will Exit AG


    February 13, 2015, Warsaw – New York – Artnews S.A., Warsaw Stock Exchange-listed global art media company, reported its 2014 financial results today with the full year PLN 20.2m (US$ 6.3m) consolidated revenue beating the original 2014 revenue forecast by 30 percent and delivering a 71 percent revenue increase from 2013.

    “Our focus on global leadership and innovation in the art media space, including our cutting-edge digital marketing tactics, a quality content strategy that caters to the millennial audience and the integration of Skate’s market-leading art business intelligence with ARTnews’ 113 year-old brand of prime quality art journalism, is clearly paying back,” commented Izabela Depczyk, Artnews S.A. Chief Executive Officer.

    Artnews S.A. re-launched its entire product roster in Q3 2014, introducing new content, updating the feel and look and implementing a digital strategy for the 113-year-old Artnews magazine which it acquired in May 2014 from the Milton Esterow family. It also integrated Skate’s art business intelligence service into the company’s overall advertising and digital marketing service. The Company’s digital media properties were the fastest growing globally in Q4 2014 in terms of audience – achieving 670,000 monthly visitors by December 2014. At the same time, it preserved Artnews’ global leadership in print circulation of Artnews magazine (over 64,000 copies in audited and verified circulation in December 2014).

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