Owlstand Helps Global Art Industry Soar Into the Digital Era
Artwork takes wing into the online era this month as Owlstand throws open the doors of its innovative digital gallery. Designed to offer exposure to artists across the globe, the online gallery showcases a curated collection of classic and contemporary works. To help Owlstand take flight, founders have launched a CrowdCube campaign with the aim of raising £70,000 by June 10th.
The concept first came to light when co-founder Stephen Yang found that most existing resources were not showing enough details for his Fine Arts studies. Furthermore, as an art lover Stephen found himself unable to enjoy exhibitions due to geographical limitations or financial costs. Even worse, he believes that the sheer expense of physical exhibition space prices out many talented artists, as well as galleries and museums. Not only do these pitfalls hinder the exposure of artwork but they also have a negative impact on the industry as a whole. Owlstand was developed as a solution to these widely felt issues. The platform offers art aficionados an immersive viewing experience as well as access to a dynamic online community where they can view, discuss, share and collect.
Despite the fact that the platform is based entirely online, Owlstand still encompasses all the key functions of traditional brick and mortar galleries. This includes curating, showcasing, marketing and sales. By re-thinking the conventions of digital space, Owlstand centralises the functions of contemporary exhibitions and condenses them into a single virtual space. It’s interactive, intuitive and set to paint itself a reputation as the Amazon and Flickr for the artistic sphere.
Already, Owlstand has spread its wings to all corners of the globe. Since launching in 2014 the beta version has been tested with 10,000 unique visitors, with average session durations of 04:19 and a low bounce rate of just 2.04%. These statistics reflect the fact that visitors are enjoying the Owlstand experience and are willing to engage, interact and explore.
When it comes to market potential, Owlstand is well positioned for immediate success. In 2013 its Total Addressable Market (TAM) was €47.4 billion while the Sales Addressable Market (SAM) was €2.5 billion. With online sales growing at a rate of at least 25% per year, research from the 2014 TEFAF art market report has indicated that by 2020 the online art trade industry could exceed €10 billion. Owlstand plans to have a share in the global art market and is confident that its services will appeal to galleries and museums across the globe. From major players such as the National Gallery and British Museum to small-scale independent enterprises, Owlstand appeals to them all. It also hopes to create extra markets by overcoming the language barriers faced by both major and emerging art scenes.
With the funds raised from the Crowdcube campaign Owlstand plans to invest in three key areas. Localisation, marketing and PR will help create a global buzz, hardware and infrastructure upgrades will enhance the user experience while operational expenses will ensure the platform can retain its hugely talented team. These plans will be executed with the intention of attracting five million unique visitors by the end of 2015, registering 25,000 active accounts, developing a robust backend system, consolidating a strong team and rolling out an intuitive, user-friendly payment system that supports the online trading function.
To find out more about Owlstand, go to: http://www.owlstand.com/
Dakota Digital for Owlstand
Contact: Rebecca Appleton
Tel UK: 01623 428996
Tel US: 917-720-3025
Owlstand is an innovative digital gallery that aims to showcase the beauty of classic and contemporary artwork online. The group has reimagined the boundaries of digital space and created an intuitive and interactive platform where art lovers can view, discuss, share and collect art with the world.