News and outlook: In October 2024 , Artprice by Artmarket has reached a new milestone with its Intuitive Artmarket® AI and its positive impact on annual recurring revenue growth. PARIS , Nov. 14, 2024 /PRNewswire/ — In mid-October 2024, Artprice by Artmarket began providing data trained by its proprietary artificial intelligence (Intuitive Artmarket®) to its high-end subscribers.
Rather than imposing on its 9.3 million customers and members a radical transformation of its databases, which have been the reference in the art world for 27 years, Artprice by Artmarket has judiciously decided to gradually inject proprietary data from its AI into its Artprice databases, without it being specified initially. This approach allows us to see the reaction of the Artprice customers who were given access to this highly enriched data.
Very quickly, Artprice saw that its Premium subscription containing its AI -enriched data (thanks to its Intuitive Artmarket®) became its annual subscription of choice, with its high-end annual subscriptions ranging from €439 to €769. Likewise, Artprice noted a significant increase in Average Connection Time (ACT) of its single customer sessions. Via an educational approach and its expertise in algorithms, deep learning, big-data analysis and its Intuitive Artmarket® AI, Artprice has seen significant growth in turnover as of mid-October as more customers chose the Premium subscriptions.
On the other hand the customers showed a strong interest in new.
