The Positive Economics of Experiential Art

Melanie Gerlis’s column in the Financial Times leads with some interesting numbers from Pace’s Marc Glimcher from their recent shows with the Japanese art collective teamLAB.

teamLAB sells video works from their shows but the bulk of revenue comes from selling admissions to the gallery. The current show in London doesn’t charge but the upcoming exhibition in Beijing will, though the price has yet to be determined:

When the gallery hosted a bigger teamLab show in its Silicon Valley space last year, its 200,000 visitors paid $20 each for tickets — of which 80 per cent goes to the gallery itself.

One thing, though, can we stop referring to art-as-an-object as a commodity. That’s just a misuse of the term. Commodities are fungible; objects are not.

Let’s get digital: how do you monetise a virtual art experience? (Financial Times)