Ming Li

Date of Award

2024

Document Type

MA Project - Restricted Access (SIA Only)

Project Type

MA Project - Business Plan

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Zhang Jin

Abstract

ArtMatrix stands at the forefront of digital transformation in the burgeoning Chinese art market. With a unique blend of expertise in art, internet, and advertising, the company offers a comprehensive suite of digital products and services tailored to the distinct needs of museums, galleries, auction houses, collectors, and artists. This business plan elucidates ArtMatrix's mission to bolster the growth of China's cultural and art market through sustainable digital innovation and its vision to set the benchmark for excellence in this domain. China's art market, which held a significant 17% global market share in 2022, is ripe for digital disruption. Despite its impressive size, a mere 20% of its galleries and auction houses have embraced online sales, lagging behind the global average of 30%. This gap presents a vast opportunity, especially considering China's expansive digital consumer base, which exceeds one billion internet users, coupled with a high penetration of mobile devices and social media platforms. ArtMatrix's product portfolio is both diverse and cutting-edge, ranging from website design and digital exhibition platforms to blockchain (DEX) platform development. These products are complemented by a range of value-added services, including digital marketing, content management, and data analysis. The company's marketing strategy is robust, leveraging popular Chinese social media platforms and search engines to maximize reach and engagement. Additionally, active participation in industry events ensures a strong network with key stakeholders. The organizational structure of ArtMatrix is streamlined for efficiency, with a board of directors for strategic guidance and specialized teams dedicated to excellence in their respective areas. As the digital wave sweeps the art world, ArtMatrix is well-positioned to ride its crest, promising significant growth and inviting stakeholders to partake in this transformative journey. This plan provides a comprehensive overview of the market landscape, opportunities, challenges, and the strategic roadmap for ArtMatrix's future endeavors.

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