Nayeoun Kim

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

Brendan Burns

Second Advisor

Noah Kupferman

Abstract

Beyond Art focuses on the development of an interactive online platform to
facilitate comprehensive and balanced art history learning. The platform addresses the need for a centralized resource that offers a 360-degree perspective on art movements, encompassing diverse cultural, political, and social contexts. This initiative aims to make art history accessible and engaging, catering to art enthusiasts and students from various age groups seeking an in-depth understanding of global art heritage. The project's concept arose from the personal experience of navigating the fragmented landscape of art history resources. Based on addressing the issues identified during my studies, Beyond Art seeks to resolve existing challenges by simplifying complex concepts, making the learning process interactive, and comprehensively providing content covering global art history. The platform's user-centric design will allow for customizable learning journeys, enabling users to explore different regions, periods, and art styles at their own pace. The online education market, including art education, is projected to experience significant growth in the coming years, driven by the increasing demand for flexible, accessible, and specialized learning platforms. Beyond Art aims to tap into this growing market by providing a unique and comprehensive resource for art history education. The platform's emphasis on interactivity, customization, and a holistic global perspective positions it as a distinctive player in the market. While there are existing competitors that offer art history education, Beyond Art's comprehensive approach, interactive features, and user-friendly design set it apart in the industry. The business model revolves around a subscription-based service that offers unrestricted access to the platform's all-inclusive features. To ensure sustainability, the company plans to continuously improve the platform based on user feedback and collaborate with experts and institutions in the field. With an initial focus on the English-speaking market, the platform intends to expand its language offerings as it grows. The marketing strategy focuses on reaching the target audience through online channels and social media platforms. Offering a free trial week and emphasizing the platform's engaging and customizable learning experiences will be central to the marketing campaign. The platform's unique value proposition lies in its ability to make art history accessible, enjoyable, and informative for diverse users. The marketing objectives revolve around increasing the number of subscribers and revenue while promoting the platform's user-centric approach and its capacity to provide a
well-rounded understanding of art history. Critical success factors for the platform
include gathering and delivering information effectively and engagingly, and the key players in realizing the vision are art historians, editors, and programmers. Risk mitigation strategies will be implemented to address technological challenges and ensure the effective design and delivery of the platform's content.
The initial capital will come mainly from the sponsors and partners who believe
in the same cause of democratizing the learning of art history to help the audience better appreciate art. Revenue will be mainly generated through subscriptions, where the rates will be more reasonable compared to the competitor companies and yet provide an equal or a better quality of education. During the initial stage, the development of the project is anticipated to be expensive, and therefore, the company is predicted to have a first-year revenue of -$79,780 due to the fact that the investment required to develop the website and educational materials will be costly and that there will be minimal revenue during the first few months of launching. However, the negative revenue will decrease over the following year, and the company is expected to stabilize after the first year. It is estimated to generate $96,400 after the first year of launching. The amount of profit is expected to grow substantially over time since there will be more revenue from subscriptions and partnerships with institutions, while total operating costs required are expected to stay at a similar level, even if educational materials are regularly produced. Given the ideal conditions, Beyond Art company is anticipated to realize consistent financial gains by the first year. The comprehensive execution timeline for Beyond Art's launch strategy outlines a systematic and well-structured plan to ensure a smooth and successful platform introduction to the global audience. Commencing in January 2024, the initial six-month period will be dedicated to website design and development, laying the foundation for the
platform's operational framework. Simultaneously, five teams, each consisting of an art historian and an editor, will create engaging and informative content, each taking responsibility for a continent’s–Africa, America, Asia, Europe, and Oceanian– art history. During the recruitment process of the art historians, their specialization will be considered to ensure each continent has its own specialist to write the best educational material possible. As the development process gains momentum, the timeline progresses to June 2024, marking the anticipated completion of website programming and the culmination of the content creation phase. With an estimated 180 videos slated for each continent - Africa, Americas, Asia, Europe, and Oceania - the platform aims to offer a diverse and comprehensive collection of educational content, catering to a global audience with varied interests and preferences. During this phase, meticulous assessments and
evaluations will also be conducted simultaneously to ensure the quality and coherence of the created content, laying the groundwork for a successful launch.
In July 2024, the focus shifts towards strategic preparations for the platform's
launch, accompanied by targeted advertising campaigns across online and social media channels. Many online platforms are designed to analyze the users’ topics of interest to suggest new content or advertisements accordingly. Therefore, this marketing tactic will allow the company to reach its target audience efficiently. This vital phase will generate buzz and anticipation within the target audience, building momentum and excitement for the official launch. Concurrently, the content creation process will continue, with additional videos being produced to enrich the platform's offerings further and enhance its appeal to a diverse audience.
In August 2024, Beyond Art is officially launched to the public. The carefully
planned eight-month development timeline reflects the platform's vision to establish a robust and sustainable business model that prioritizes quality, accessibility, and user engagement. By adhering to the strategic timeline, Beyond Art aims to position itself as a leading and trusted resource for art education, fostering a vibrant and dynamic community of learners and enthusiasts passionate about exploring the rich and diverse world of art history.

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