Nugget-Digging Industry

 

Statistics show that in the U.S., the output value of art licensing has surpassed US $18 billion, or US $365 per capita. This is compared to US $91 in Japan, and just US $0.7 in China.

In recent years, many art institutes in Beijing, including Baiyaxuan, Artkey, Artron, Today Art Museum, and White Box Museum of Art, have begun to engage in developing and selling derivatives. Their target consumers are art fans and young consumers in search of novelty.

Xi Mu, deputy director of China Art Market Institute and research fellow of the Art Market Research Center of the Ministry of Culture, believed that art consumption will see a massive increase along with China’s continuing economic growth. Meanwhile, the industry prospects are very promising as the derivatives have a similar aesthetic value to the art they are based on, but are more economically accessible to the average consumer.

Derivative developers stay away from works that the general public find difficult to understand, and concentrate on those that are widely appreciated and enjoyed. “For example, everyone can appreciate Liu Ye, as his art consists of cartoon images,” said Sun Yongzeng.

Sun suggested original and limited-edition derivatives be priced between RMB 1,000 and 5,000. “Authentic works are for collectors and investors. For derivatives, especially replicas, the prices should be lowered to what normal consumers can accept. Artists, consumers, and merchants all benefit from this situation – the art is promoted, and normal people can afford art as a part of their lifestyles.”

In terms of the gap between China and Western countries in this industry, it is the environment it exists in rather than experience that marks the major difference.

“There are three constraints on the development of China’s derivatives market,” Xi Mu explained. “The first is copyright protection, which is critical for the industry. Copyright holders need to protect their interests by licensing, but doing this is a big problem in China. The second is the general conception of derivative consumption. People still generally regard derivatives as cheap mass productions, and usually misjudge their value and the price they deserve. The final constraint is the base of industry, which encompasses artists, innovation, development and sales, and which is currently weak in China.”

Source from China Today