artnet AG: Artnet Shareholder Meeting 2023

EQS-News: artnet AG / Key word(s): AGM/EGM/Miscellaneous
artnet AG: Artnet Shareholder Meeting 2023

31.08.2023 / 15:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Artnet Shareholder Meeting 2023

  * Strong audience growth and successful core product developments
    reinforce market leadership

  * Revenue stability and cautiously optimistic outlook despite global
    economic uncertainty and constrained art market performance

New York/ Berlin, August 31, 2023: Artnet AG, listed on the Prime Standard
of the Frankfurt Stock Exchange, yesterday held its Annual General Meeting.
Shareholders were given a full picture of the 2022 and 2023 YTD performance
as well as outlook for the remainder of the year. As shown during the
meeting, Artnet was able to expand its position as the leading trading
platform for the art market in the past fiscal year 2022 and in the first
half of 2023. Artnet's CEO Jacob Pabst expressed that, "Our goal for the
months and years ahead is to further expand Artnet's market leadership as
the world's largest platform for fine art. We are driving the digitization
of the art market as it matures into a global industry, and are providing
the informational transparency and transactional efficiency to cater to it."
During the presentation of the 2023 half-year figures, Pabst warned that the
current global economic situation in the second half of the year will
continue to have an impact on the art market in the short term.

Revenue increases in 2022 and the first half of 2023: The company's revenue
totaled $26.3 million in 2022, which represents a 6,6% increase. During the
2022 financial year, Artnet saw strong increases in Media segment revenue.
In the first half of 2023, the company's revenue increased 1% to $13 million
compared to the same period last year.

Data: Update with new content and new features: The Database reached more
than 16 million auction results in 2022. Revenue in this segment decreased
3% to $7.4 million in 2022. In the first half of 2023, the Data segment
revenue declined 1,8% YoY to $3.7 million. However, Artnet expects revenue
to increase due to the release of the renewed Price Database product. "The
redesigned Price Database has been very well-received industry-wide,
featuring in-depth data analysis and radically improved search capabilities
on a new mobile optimized UX," says Pabst.

Marketplace: softer market conditions impact performance: In the Marketplace
segment, Artnet revenue was $9.6 million in 2022 (-6% compared to 2021). In
the first half of 2023, the constrained economic situation continued to have
a negative impact on the global art market, and thus also on Artnet's
Marketplace segment. Revenue was $4.6 million, down 5% from the same period
in 2022. Jacob Pabst explained, "we have seen solid results with prints &
multiples and photographs. However, sales of unique works have been more
challenging in an increasingly selective contemporary art market"

Media: Growth and returning clients: The Media segment reported a 38%
year-on-year increase in revenue to $9.1 million in 2022. The number of
pageviews increased by 58% to 158 million. "Deep customer loyalty and strong
brand positioning are driving very positive momentum in our Media segment,"
Pabst reported. Due to continued demand from advertisers, Artnet's Media
segment achieved 10% revenue growth to $4.6 million in the first half of
2023.

Outlook: Management will continue to invest in its technology and product
development in 2023 in line with its strategic goal of creating a unified
platform that drives growth through the realization of the clear and
formidable synergies between its segments. An improved user experience in
2023 will drive traffic, user engagement, and conversion to Artnet's
marketplace and subscription products. Investments in Sales and Marketing
will also improve conversion and brand recognition in 2023, whiletight
expert curation of Artnet's marketplace will continue to generate trust from
buyers and sellers.

Editorial note

All key company figures can be found at:
http://www.artnet.com/investor-relations/

About Artnet

Artnet has an unparalleled 60 million users annually, making it the largest
global platform for fine art. Founded in 1989, Artnet has revolutionized the
way people discover, research, and collect art today. Artnet's Data provides
mission-critical resources for the art industry, encompassing more than 16
million auction results and AI- and ML-driven analytics, further driving
transparency and insight into the art market. Artnet's marketplace connects
leading galleries and auction houses with its global audience, offering a
curated selection of over 250,000 artworks for sale worldwide. Artnet
Auctions, the pioneering online-only auction platform, offers unprecedented
reach, liquidity, and efficiency for buyers and sellers. Artnet News covers
the events, trends, and people shaping the global art market with
up-to-the-minute analysis and expert commentary. It is the single most-read
news publication in the fine art industry, with a rapidly growing, dedicated
audience. Together, Artnet's broad synergistic product offering provides a
comprehensive ecosystem that drives and informs the modern art market.

Artnet AG is listed in the Prime Standard of the Frankfurt Stock Exchange,
the segment with the highest transparency standards. The majority of
operations are headquartered in New York at its wholly-owned subsidiary,
Artnet Worldwide Corporation, a New York based entity founded in 1989.
Artnet Worldwide Corp. owns a London based subsidiary, Artnet UK Ltd.

ISIN: DE000A1K0375

LEI: 391200SHGPEDTRIC0X31

Contact:

Sophie Neuendorf

sneuendorf@artnet.com


---------------------------------------------------------------------------

31.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---------------------------------------------------------------------------

   Language:       English
   Company:        artnet AG
                   Oranienstraße 164
                   10969 Berlin
                   Germany
   Phone:          +49 (0)30 20 91 78 -0
   Fax:            +49 (0)30 20 91 78 -29
   E-mail:         info@artnet.de
   Internet:       www.artnet.de
   ISIN:           DE000A1K0375
   WKN:            A1K037
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Stuttgart, Tradegate Exchange
   EQS News ID:    1716287

End of News EQS News Service
---------------------------------------------------------------------------

1716287 31.08.2023 CET/CEST