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Music Data from Streaming Platforms Tell Us About Top Indian Artists

By in Native

Music Data from Streaming Platforms Tell Us About Top Indian Artists





Top streamed artists in India across platforms like Spotify, Apple Music, Wynk Music and Amazon Music include Arijit Singh, Sidhu Moose Wala, Jasleen Royal, Anirudh Ravichander (clockwise from top left)

Tis the season for all of India’s reigning artists on streaming platforms to come to the front, in one way or another. Even if it isn’t through concrete data about the number of streams, the likes of Spotify, Apple Music, Wynk Music and Amazon Music have had us Wrapped, Rewind, Replay and Recap, among other actions.

While Spotify Wrapped undoubtedly draws most of the eyes for not just for its aesthetic and presentation, like with most stats related to the vast Indian population, it can only claim to hold a mirror up to a certain share of the country’s music listening audience. While YouTube is among the most-used platforms for music, we don’t have much beyond the weekly stats of top streamed songs. That said, here’s a platform-wise look at the streaming trends highlighted by some of the major players in India and what it tell us.

Spotify Wrapped India

According to Spotify India stats, Arijit Singh, Pritam and Anirudh Ravichander are among the most streamed artists in India in 2023. While Singh may not have shared his Wrapped card, Pritam – behind big hits like “Kesariya” from Brahmastra and “Tere Pyaar Mein” from Tu Jhoothi Mein Makkaar – showed off his stats, with 4.5 billion streams. Anirudh – the singer-composer behind the hugely popular soundtracks to Jawan (“Chaleya”) and Leo (“Badass”) – shared that he had 2.8 billion streams in India in 2023.

The top 10 most streamed artists on Spotify India are entirely dominated by film soundtrack artists, except late Punjabi star Sidhu Moose Wala, whose tragic death in 2022 seems to have propelled more fandom and an everlasting legacy in the making. His 2021 full-length Moosetape snagged the third-most streamed album on Spotify as well.

Albums from previous years seem to stay in the top 10 for Spotify listeners, with the exception of Punjabi-Canadian artist Shubh’s Still Rollin’ which came out in 2023 and KING’s Champagne Talk from October 2022.

KING enjoys the top spot for the most streamed song of the year on Spotify India, with “Maan Meri Jaan” being quite ahead. Even more curious, though, is the second spot, secured by Karachi singer-songwriter Kaifi Khalil’s tune “Kahani Suno 2.0,” also from 2022. It goes to show that borders might divide us, but when it comes to music, Indians are more than happy to put a good song on repeat. This was in fact just as evident in 2022, when Ali Sethi and Shae Gill’s “Pasoori” was among the most streamed songs.

Only four out of the top 10 most streamed songs are from movie soundtracks, which continues to give a strong indication that a good song need not necessarily be attached to a film.

Apple Music Replay India

A fully paid service unlike Spotify, Wynk or YouTube, Apple Music’s India Top 100 songs brought up quite a few differences in listening habits. Arijit Singh still sat the top spot, though, with “Apna Bana Le” by composers Sachin-Jigar and lyricist Amitabh Bhattacharya from the movie Bhediya clinching the top spot on the playlist. KING’s “Maan Meri Jaan” came in second, followed by AP Dhillon’s “Dil Nu” with Shinda Kahlon and international songs like “Calm Down” by Rema and Selena Gomez. Dhillon’s song “Summer High” comes in at the fifth spot, followed by “Kesariya” from Brahmastra and “Baller” by Shubh and Ikky.

Punjabi music certainly dominates the Top 100, even by Apple Music’s own admission. Dhillon and Shubh are joined by Riar Saab and Abhijay Sharma’s “Obsessed” and Sharn, 40K and THE Paul’s “Mi Amor.” In the top 20, Shubh has three more songs and Dhillon has two more, with fellow Punjabi-Canadian artist Karan Aujla’s “On Top” also in the top 20.

Within the top 10, however, sandwiched between those Punjabi hitmakers is “Besharam Rang” by Vishal-Shekhar, Shilpa Rao and Caralisa Monteiro from the movie Pathaan. It makes Rao and Monteiro the only female Indian artists in the top 10 on Apple Music in India.

Wynk Rewind 2023

Arijit Singh, Pritam and Amitabh Bhattacharya emerge as the top three artists on Wynk Music as well, but it’s not because of “Kesariya.” For Singh and Bhattacharya, their work on “Phir Aur Kya Chahiye” (from the soundtrack to Zara Hatke Zara Bachke with Sachin-Jigar put them among Wynk Music’s top streamed artists. For Pritam, it was “Tum Kya Mile” and “What Jhumka” from Rocky Aur Rani Kii Prem Kahaani.

The platform’s top three streamed songs, however, painted a different story – Jasleen Royal’s “Heeriye” (featuring Arijit Singh, because he’s everywhere) was the most streamed song, followed by “Chaleya” by Anirudh Ravichander (and sung by, you guessed it, Singh and Shilpa Rao) and Vishal Mishra and Shreya Ghoshal’s “Zihaal e Miskin.”

There was also a language-wise breakdown of top artists offered by the platform, with Arijit Singh dominating Hindi (and Bengali) songs and Anirudh Ravichander leading Tamil. S.S. Thaman was the most streamed for his Telugu songs, while Taylor Swift was the most streamed artist with English songs and Karan Aujla for Punjabi. Other top artists include rapper MC Square in Haryanvi, composer Arjun Janya in Kannada, composer-singer Hesham Abdul Wahab in Malayalam and Zubeen Garg in Assamese, among others.

Amazon Music Best of the Year

Included with a Prime membership with the retail company, Amazon Music shared that Anirudh Ravichander’s “Chaleya” was the top track of 2023, with Shilpa Rao earning the spot of top artist this year.

The top streamed Hindi song on the platform was “Tere Vaaste” from Zara Hatka Zara Bachke, composed by Sachin-Jigar and sung by Varun Jain, Shadab Faridi and Altamash Faridi.

Miley Cyrus’ viral hit “Flowers” was the most streamed international song on Amazon Music, with fellow pop artists Taylor Swift and Dua Lipa noted as the top streamed international artists in the country.

In terms of streams, Kerala indie-folk act When Chai Met Toast and Haryanvi hip-hop artist MC Square were the top indie and hip-hop artists of the year, respectively.

Similar to language-based music trends on other platforms, Ravichander remained the top Tamil artist, Aujla, Diljit Dosanjh and AP Dhillon were among the most streamed Punjabi artists and S.S. Thaman was the top Telugu artist on Amazon Music in India.

The Art of Storytelling in Web3 Marketing

By in Art World News

The Art of Storytelling in Web3 Marketing

In the digital renaissance of Web3, where decentralized applications (DApps), non-fungible tokens (NFTs), and DeFi platforms are redefining interactions, storytelling emerges as a pivotal tool for marketers. Crafting compelling narratives is not just about brand promotion; it’s about forging a connection in a space where technology meets people. For Web3 marketers, the ability to tell a story that resonates with both investors and users is a blend of art and strategy.

Web3, the next iteration of the internet, is built on the pillars of decentralization, blockchain technology, and token-based economics. Here, the story is not just about a product or service; it’s about a vision of the future. Effective storytelling in this space involves weaving narratives that encapsulate the ethos of decentralization, the empowerment of users, and the transformative potential of the technology.

Consider the rise of NFTs, for instance. Beyond their market value, the true allure of NFTs lies in the stories they tell — be it about artistic expression, community belonging, or digital ownership. Successful Web3 projects like CryptoPunks or Bored Ape Yacht Club aren’t just selling digital assets; they are selling a part of a broader narrative, a membership to an exclusive digital renaissance.

Crafting Stories That Resonate

The crux of storytelling in Web3 marketing is to create narratives that resonate on a personal level while highlighting the technological prowess. This involves a delicate balance. On one side, there’s the need to simplify complex blockchain concepts into stories that the average user can relate to. On the other, there’s the necessity to showcase the innovation and potential of the project to savvy investors and crypto enthusiasts.

For example, when a DeFi platform talks about yield farming or liquidity pools, the story shouldn’t just dwell on the technicalities. It should paint a picture of financial empowerment, of being part of a system that’s more inclusive and equitable than traditional finance.

Utilizing Community as Storytellers

In Web3, the community is not just an audience; it’s an active participant in the storytelling process. Leveraging platforms like X (formerly Twitter) or Discord, projects can encourage their community to share their experiences, create user-generated content, and become brand advocates. These personal stories add layers of authenticity and credibility, crucial in a space often marred by skepticism.

Take, for instance, how DAOs (Decentralized Autonomous Organizations) utilize community governance. The narrative here extends beyond just decentralized decision-making; it’s about community members shaping the future of the project, a tale of collective empowerment and direct involvement.

The Role of Transparency in Storytelling

In the blockchain world, where transparency is king, stories need to reflect this value. This means being open about the project’s roadmap, its successes and setbacks, and the team’s vision and values. A transparent narrative builds trust and demonstrates a commitment to the principles of Web3.

For example, when a project undergoes a smart contract audit, sharing this story isn’t just about showcasing security measures; it’s about illustrating a commitment to protecting user interests, a narrative that builds confidence and trust in the platform.

Conclusion

In the ever-evolving landscape of Web3, the art of storytelling is a powerful marketing tool. It’s about creating narratives that not only highlight technological innovation but also resonate with the community’s aspirations and values. By mastering this art, Web3 marketers can engage both investors and users, building a loyal community that’s invested not just financially, but emotionally in the project’s success. As Web3 continues to grow, those who can tell the most compelling stories will be the ones who define its future.

In the digital renaissance of Web3, where decentralized applications (DApps), non-fungible tokens (NFTs), and DeFi platforms are redefining interactions, storytelling emerges as a pivotal tool for marketers. Crafting compelling narratives is not just about brand promotion; it’s about forging a connection in a space where technology meets people. For Web3 marketers, the ability to tell a story that resonates with both investors and users is a blend of art and strategy.

Web3, the next iteration of the internet, is built on the pillars of decentralization, blockchain technology, and token-based economics. Here, the story is not just about a product or service; it’s about a vision of the future. Effective storytelling in this space involves weaving narratives that encapsulate the ethos of decentralization, the empowerment of users, and the transformative potential of the technology.

Consider the rise of NFTs, for instance. Beyond their market value, the true allure of NFTs lies in the stories they tell — be it about artistic expression, community belonging, or digital ownership. Successful Web3 projects like CryptoPunks or Bored Ape Yacht Club aren’t just selling digital assets; they are selling a part of a broader narrative, a membership to an exclusive digital renaissance.

Crafting Stories That Resonate

The crux of storytelling in Web3 marketing is to create narratives that resonate on a personal level while highlighting the technological prowess. This involves a delicate balance. On one side, there’s the need to simplify complex blockchain concepts into stories that the average user can relate to. On the other, there’s the necessity to showcase the innovation and potential of the project to savvy investors and crypto enthusiasts.

For example, when a DeFi platform talks about yield farming or liquidity pools, the story shouldn’t just dwell on the technicalities. It should paint a picture of financial empowerment, of being part of a system that’s more inclusive and equitable than traditional finance.

Utilizing Community as Storytellers

In Web3, the community is not just an audience; it’s an active participant in the storytelling process. Leveraging platforms like X (formerly Twitter) or Discord, projects can encourage their community to share their experiences, create user-generated content, and become brand advocates. These personal stories add layers of authenticity and credibility, crucial in a space often marred by skepticism.

Take, for instance, how DAOs (Decentralized Autonomous Organizations) utilize community governance. The narrative here extends beyond just decentralized decision-making; it’s about community members shaping the future of the project, a tale of collective empowerment and direct involvement.

The Role of Transparency in Storytelling

In the blockchain world, where transparency is king, stories need to reflect this value. This means being open about the project’s roadmap, its successes and setbacks, and the team’s vision and values. A transparent narrative builds trust and demonstrates a commitment to the principles of Web3.

For example, when a project undergoes a smart contract audit, sharing this story isn’t just about showcasing security measures; it’s about illustrating a commitment to protecting user interests, a narrative that builds confidence and trust in the platform.

Conclusion

In the ever-evolving landscape of Web3, the art of storytelling is a powerful marketing tool. It’s about creating narratives that not only highlight technological innovation but also resonate with the community’s aspirations and values. By mastering this art, Web3 marketers can engage both investors and users, building a loyal community that’s invested not just financially, but emotionally in the project’s success. As Web3 continues to grow, those who can tell the most compelling stories will be the ones who define its future.

Bill Gates and an adopted teddy bear: photos of the day

By in Photography

Bill Gates and an adopted teddy bear: photos of the day
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Dubai, United Arab Emirates

Representatives of Brazilian Indigenous groups march through the UN Cop28 climate conference venue on day six of the talks. The international summit, which ends on 12 December, brings together stakeholders, including international heads of state and other leaders, scientists, environmentalists, activists and others to discuss the implementation of global measures towards mitigating the effects of the climate crisis

Photograph: Sean Gallup/Getty Images

Thumzup® Welcomes Joey Accardo Art to its Proprietary Cash Rewards Platform

By in Art World News

Thumzup® Welcomes Joey Accardo Art to its Proprietary Cash Rewards Platform

Available in the App Store and Google Play, Thumzup Enables Virtually Everyone to Earn Cash Rewards for Posting on Social Media about the Brands They Love

Los Angeles, CA, Dec. 05, 2023 (GLOBE NEWSWIRE) — Thumzup Media Corporation (“Thumzup” or the “Company”) (OTCQB: TZUP) is excited to welcome Joey Accardo Art located in Venice, CA, to its AdTech platform, where users are financially rewarded for promoting our advertising partners on social media.

The Thumzup mobile app, which is available for download in the App Store and Google Play, incentivizes virtually everyone to become social media advocates for the brands they enjoy by paying them cash for approved posts.

“We’re thrilled to welcome Joey Accardo Art, led by Joseph Accardo, to the Thumzup platform,” stated Robert Steele, Founder and Chief Executive Officer of Thumzup. “Thumzup’s users are now able to earn cash while commissioning sports posters and prints from Joseph Accardo. Joey Accardo Art boasts of an impressive portfolio of replicas of Kobe Bryant, Tom Hardy, and Jerry Rice to name a few. Thumzup is excited to help keep spreading the word of Joseph Accardo’s artistry so that it can be enjoyed by many more people.”

For more information, please visit https://www.thumzupmedia.com and https://artbyaccardo.com.

About Thumzup®

Thumzup Media Corporation (Thumzup) is democratizing the multi-billion dollar social media branding and marketing industry. Its flagship product, the Thumzup platform, utilizes a robust programmatic advertiser dashboard coupled with a consumer-facing App to enable individuals to get paid cash for posting about participating advertisers on major social media outlets through the Thumzup App. The easy-to-use dashboard allows advertisers to programmatically customize their campaigns. Cash payments are made to App users/creators through Venmo and PayPal.

Thumzup is a publicly traded company (OTCQB stock ticker: TZUP). For more information, please visit https://www.thumzupmedia.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements about its potential growth, impacts on the advertising industry, and planned expansion. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in our filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contact Info:
800-403-6150
investors@ThumzupMedia.com

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133-year-old Indigenous arts supplies store in Lakewood keeps artistic traditions alive for all

By in Native

133-year-old Indigenous arts supplies store in Lakewood keeps artistic traditions alive for all

Cecelia Bull Bear has been making quillwork art for as long as she can remember.

“I learned from my grandmother, Ethel Black Crow, and my aunt, Rose Spotted Eagle, when I was real young,” the 76-year-old Denver-based Oglala Lakota artist said. “I’ve been doing it all my life.”

Quillwork is an art form that uses porcupine quills to embroider clothing and make jewelry, and it is one of the oldest artistic traditions practiced by Indigenous North Americans, mostly in the northern plains of what is now the U.S. and across Canada.

To Bull Bear, who is from the Medicine Root District of the Pine Ridge Reservation in South Dakota, quillwork products are as precious as gemstones.

“Quillwork is like wearing diamonds,” Bull Bear said. “Quillwork is sacred. It was here before the beadwork people do now.”

Bull Bear is one of many artists who patronize and sell their art at the reopened Orr’s Trading Post, a Native arts supply store that has long been an important community hub for Indigenous people.

New owner Lakota Sage wants to expand Orr’s 133-year legacy as a community hub and arts store into a destination for authentic Indigenous arts.

Formerly located in Englewood and Denver and operated by the Orr family for generations, the new owner, Lakota Sage, reopened the store in Lakewood near Colfax Avenue and Kipling Street in February after the previous owners decided to close down.

Orr’s has always offered Denver’s Indigenous community a place to buy supplies to make regalia, practice traditions and create art; even Bull Bear’s grandmother used to buy supplies at Orr’s when it was on Colorado Boulevard in Denver.

“Most people come here to buy supplies, so when word started getting around it was closing, the community started freaking out a little,” Sage, a Lakota citizen of the Standing Rock Sioux Tribe, said of why he restarted the business.

This new location continues the business’ legacy of serving Denver’s Indigenous community, but Sage also wants it to be a place where people who are not Indigenous can come to see and buy local artists’ artwork.

Here, Sage hopes, they can also learn about sacred traditions and see that Indigenous art and culture is alive and well in Denver.

Orr’s Trading Post in Lakewood on Wednesday, Nov. 15, 2023. The Native American arts supply store has started selling finished art as well. (Photo by Hyoung Chang/The Denver Post)

“The more we can have representation, the better,” Sage said. “Because we are still here; we’re still remembered.”

That’s also why Bull Bear said being able to sell her work at Orr’s is so important to her: Not only is quillwork sacred, but here in Denver, the skill is a rarity.

Bull Bear is the only practicing plains quillwork artist in the area; many people stopped doing quillwork to take up the less complicated beading art that is most commonly associated with Indigenous embroidery now. She’s started classes in Denver to keep the tradition alive here.

“They say it’s a dying art, but if people like me teach it, I think we can keep it alive,” she said. “It’s really a blessing to try and teach it to new generations. We need to take care of it.”

Newer local artists also get a chance to show people their work at Orr’s.

Tom Salazar, an Indigenous third-generation Coloradan, is a self-taught artist who sells beaded jewelry at Orr’s and buys a lot of his supplies there. His art is also meant to show people Native American traditions are still alive, and he said Orr’s is the perfect place to teach people about art through his and others’ work.

“Art is something I like to do so people don’t forget where we came from,” Salazar said. “A lot of people don’t see Native art as something somebody put their heart and soul into. When I make something, I genuinely have a love for my ancestry and love for the community to where I want to make it authentic.

“A place like Orr’s is a great place for the community to make and see authentic jewelry.”

Jewelry by artist Tom Salazar are for sale at Orr's Trading Post in Lakewood on Wednesday, Nov. 15, 2023. The Native American arts supply store has started selling finished art as well. (Photo by Hyoung Chang/The Denver Post)
Jewelry by artist Tom Salazar are for sale at Orr’s Trading Post in Lakewood on Wednesday, Nov. 15, 2023. The Native American arts supply store has started selling finished art as well. (Photo by Hyoung Chang/The Denver Post)

Sage also has branched the store out for more than just the beadwork and regalia-making products.

Other wares include macaw feathers for Nahua, or Aztec, people of Mexico; shells of all types, sea stars and urchins for coastal nations and Pacific Islanders; painted beads from Peru; and katchina dolls, ancestral spirits of the Hopi and Pueblo people of the Southwest, are all available at Orr’s.

“There’s something for everybody here,” Sage said. And that goes for non-Indigenous people, too.

A whole section of the store is dedicated to naturopathy, with traditional teas that have healing properties lining a wall and sages, sweetgrass and palo santo available for ceremonies and smudging. Stones with different astrological and healing purposes are also available in different sizes and shapes for different uses.

“It’s not just a store for Natives; it’s a store for everybody,” Sage said. “The idea behind that is the more people we can get in here, the more these local Native artists can be seen and our culture appreciated. It’s a helping hand for everybody.”

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She Taught Herself to Renovate Her Own Apartment

By in Photography

She Taught Herself to Renovate Her Own Apartment
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The Living Room: The fire escape faces north. “It was my COVID garden,” Amanda Weil says. “I spent so much time on that hammock.” The sofa is Vladimir Kagan, and the pair of swivel chairs are from CB2.
Photo: Stephen Kent Johnson

The first thing photographer Amanda Weil asks “pretty much anyone” who walks into her Village apartment is to stand, in profile, before a translucent-glass door so she can take a picture. Turned into silhouettes, they are displayed on a wall in a grid. “My life is so much about creating community,” she says. “And whether it’s the UPS guy or whatever, these are your people!”

Weil’s photographs mingle on the walls with art made by her friends. Some of her photos, like the seascape shower door, have been transformed into architectural features by Weil Studio, founded in 1993, through which she collaborates with architects and designers to produce installations based on her work. Transparency and translucency have long fascinated her, and an early inspiration was stained glass: “Light is the embodiment of the spirit,” she says, “and that just really spoke to me.”

She found the apartment by “kismet,” visiting it on a playdate with her daughter, Samantha. Its parent owners were thinking about selling, and she needed more space. That was 18 years ago. But it wasn’t until the pandemic that she decided to renovate it. Her first move was to hire an architect whose name she says she has forgotten, probably because “if he didn’t like an idea I had, he wouldn’t draw it, so I fired him.”

Liberated, Weil felt she could do it herself, albeit with some help from her contractor (from Worldkor Construction Corporation) and guidance from one of her best friends, the architect and production designer Kevin Thompson. It was a learn-as-she-went process. “The funny part is that there wasn’t an overarching idea,” beyond letting in more light. “It was like problem solving, one thing after the other,” she says. “I did so much of this with blue tape,” she adds gleefully, mapping out where the walls would go on the floor. She had a particular idea for her bedroom, though. “I am very into boats, so I had this vision in my head of a ship captain’s bed and then literally went on Amazon and bought a porthole and told the contractor where to put it.”

When it came to the kitchen, she knew the five-foot wall blocking the window had to go “because it’s all about the view.” She visited other people’s kitchens to see what she liked. “I hid the appliances as much as I could,” she says. “It was worth it for me showing up here every day for three months because I thought deeply about how I live, all those teeny details, like how you live differently from everybody else. I rarely yearned to come home, and now I do.”

The Living Room: “All the art is meaningful to me, made by somebody I know,” Weil says, including Adam Fuss’s photogram of her daughter, Samantha (center right). At top left: A Is for Amanda, by Jack Pierson, and Beloved George, by Weil. The dining table and chairs are by Orren Ellis.
Photo: Stephen Kent Johnson

The Dining Area: The silhouetted portraits of Weil’s friends and other visitors fill the wall and the door, which is laminated with dichroic glass and has a photographic-film interlayer.
Photo: Stephen Kent Johnson

The Main Bedroom: “I put in this LED lighting in the cove,” Weil says, which her software-engineer friends programmed for her. “At night, it’s amazing.” The blue art on the wall (“It’s a fresco”) is by James Hyde.
Photo: Stephen Kent Johnson

The shower door of laminated glass with photographic film in Samantha’s bathroom is by Weil Studio. “For my daughter’s shower, I took photos of the water surface with the seaweed floating underneath. I wanted the image to integrate with the busy tile pattern that my daughter had chosen, so I took the seaweed abstracted it through pixelization.”
Photo: Stephen Kent Johnson

Weil’s bathroom has a shower enclosure by Weil Studio composed of Ceramic Frit printed glass. “The image surrounds me in the shower and I am transported to that moment of expansiveness I feel when I stand overlooking an expanse of water,” she says.
Photo: Stephen Kent Johnson


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Printmaking Student Exhibition

By in Printmaking

Printmaking Student Exhibition
The Bare-Montgomery Gallery, located in Fairbanks Hall, is currently playing host to The Printmaking Student Exhibition. This exhibit opened on November 16th and will be going until December 15th, when

The art market in 2023: shaky year for heavily guaranteed single-owner sales

By in Art World News

The art market in 2023: shaky year for heavily guaranteed single-owner sales

Selling prominent single-owner collections has long been seen as a key piece of strategy at the three major auction houses. It is for this reason that Christie’s and Sotheby’s (and to a lesser extent, Phillips) regularly compete to guarantee sums from tens of millions to hundreds of millions of dollars to secure valuable consignments from significant living collectors and the estates of storied patrons.

But results in 2023 may give auction house decision-makers pause on this front, at least temporarily. Based on the conventional wisdom, offering major single-owner collections should have been a sure bet for the Big Three houses during a shaky, uncertain year of business. In hindsight, however, there is relatively little evidence that these big-name sales drastically outperformed those assembled from multiple owners with less fanfare, calling into question the sizeable upfront investment required to secure the former in the first place.

The glitziest evening auction in New York this autumn was devoted to the collection of Emily Fisher Landau, a late, great patron of the Whitney Museum of American Art. The 31 lots in the sale were expected to sell for as much as $430.1m combined, and Sotheby’s guaranteed the estate an undisclosed but hefty price for the privilege to offer them.

Yet the sale generated a hammer total of $351.6m ($406.4m with fees), barely above the $344.5m low estimate (which excludes fees). The financial upside for the house was further limited by its decision to secure third-party guarantees for 25 of the 31 lots (80.6%). For the vast majority of the Fisher Landau works, then, Sotheby’s paid a fee to an outside guarantor—either in cash, if a competitor later beat out their advance bid, or as a discount on the final sale price, if their advance bid won the lot.

Guarantors don’t guarantee success

Phillips took an even more risk-averse approach for its evening sale of works from the pTriton Collection Foundation, a Dutch non-profit that is churning some of its Modern and post-war holdings to fund acquisitions of newer pieces. To offset the undisclosed minimum price guaranteed to the Triton Collection Foundation for the group, the auction house found third-party guarantors for all of the 30 lots offered in the evening auction. The hammer total of $69.9m ($84.7m with fees) fell short of the $73.3m low estimate, giving reason to wonder whether the house’s return justified its investment.

The risk aversion by Sotheby’s and Phillips in November looks less extreme relative to the dreary performance of two major single-owner auctions earlier in 2023. On 5 October, Sotheby’s staged an evening auction in Hong Kong of 39 works from the personal holdings of the Chinese entrepreneur Liu Yiqian and his wife, Wang Wei, who co-founded the Long Museum in Shanghai. The house guaranteed only seven of the works in the sale and negotiated third-party guarantees for only five.

Sotheby’s almost undoubtedly regretted the latter. The evening sale made $58m ($69.5m with fees), well below its presale target range of $95.9m to $135.5m. Ten of the lots failed to find buyers. The expected star of the evening, Amedeo Modigliani’s Paulette Jourdain (1919), hammered at $30m ($34.8m with fees), only two-thirds of the unpublished estimate in the region of $45m; it carried a house guarantee but no third-party backing.

A similarly wince-inducing story played out at Christie’s in May, when the house staged its much-hyped 65-lot evening sale of works from the collection of the late real estate developer Gerald Fineberg. The auction generated a hammer total of $124.7m ($153m with fees), roughly 25% by value below its low expectation of $163m. The result was poor for Christie’s but arguably worse for Fineberg’s heirs, who sources say declined a house guarantee in favour of receiving a portion of the buyer’s premium on sold lots. (Partly as a result, the auction also featured no third-party guarantees.)

Although the two other single-owner evening sales in New York last spring performed adequately relative to expectations, neither of the sums they generated is more than a footnote seven months later. Sotheby’s auction of 15 lots owned by Mo Ostin, an American music industry executive, delivered a hammer total of $104.5m ($123.7m with fees), barely above its $103.3m low expectation. Christie’s sale of works from the holdings of S.I. Newhouse, the late publishing magnate, brought $150.5m ($178m with fees) against an estimate of $142.6m to $202.6m. All 16 of Newhouse’s works were guaranteed by Christie’s, and 11 (around two-thirds) were backed by third parties.

The economic uncertainty surrounding New York’s autumn sales may have justified the ultra-conservative strategy adopted by Sotheby’s and Phillips for their Fisher Landau and Triton Collection Foundation evening sales. (It is also plausible that Christie’s would have proceeded similarly had it won those consignments.) But 2023 at least clarified this much: in a soft market, the benefits of offering a major single-owner collection can be undermined—if not overwhelmed—by the costs of winning it, derisking it, or both.

Mumbai ‘Ancient Sculptures’ exhibition at CSMVS brings together artistic traditions from India, Egypt, Assyria, Greece and Rome

By in Sculpture

Mumbai ‘Ancient Sculptures’ exhibition at CSMVS brings together artistic traditions from India, Egypt, Assyria, Greece and Rome
At the Chhatrapati Shivaji Maharaj Vastu Sangrahalaya, explore ancient sculptures from India, Egypt, Assyria, Greece & Rome. From a majestic 2nd century BCE limestone sculpture from Amaravati to a resplendent white marble Dionysos from 100-199 CE, on loan from the British Museum, the exhibition illuminates the interconnectedness of the ancient world. Through art education and reinterpreting ancient art history, this show furthers CSMVS’ mandate for art education. With works from international partners & Indian museums, visitors can explore the familiar & exotic in syncretism. In dialogue with the sculptures, visitors can take their place in history.
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