Artprice hones its use of Facebook and social media.
Art market information specialist Artprice has signed a publishing agreement with the Museum of Contemporary Art, Musée l’Organe, which manages La Demeure du Chaos, otherwise known as the Abode of Chaos and also the headquarters of Artprice for the past 16 years.
The agreement covers an editorial amalgamation of the teams generating news dispatches for Facebook and the peering of the two Facebook networks in order to finalise the terms of access to Facebook’s Instant Articles.
According to Thierry Ehrmann, founder and CEO of Artprice, but also a sculptor/artist and creator of the Abode of Chaos: “This framework agreement will give the two editorial teams unrivalled firepower to cover art market news and information around the world.”
The Museum of Contemporary Art, Musée l’Organe, whose main activity is the management of the Abode of Chaos, is France’s most visited private museum of Contemporary art outside Paris.
Founded in 1999, it is France’s first museum of Contemporary Art to be officially registered as a commercial enterprise. It is controlled by Artprice’s parent company, Server Group.
Every month, the Musée l’Organe Facebook network attracts over 9 million Contemporary art enthusiasts from all over the world with over 40 articles per day on Contemporary art and global art market news.
On Facebook, Flickr, Vimeo and Google+, the Musée l’Organe publishes proprietary databases (among other elements) with 45,000 high definition photos and videos of the 5,400 works produced on its site.
Meanwhile, Artprice has over 259,000 members and 11 million visitors per month via its own Facebook network.
The coupling of the two editorial teams and their common access to editorial sources will allow the two Facebook networks to benefit from Metcalfe’s law, which considers the value of a social network as proportional to the square of the number of its users, said Artprice in a statement.
“We are therefore looking at an exponential growth path that started in beta-testing in early April 2015, with effective roll-out since early July 2015” it said.
Artprice has also confirmed the launch, on 3 August 2015, of a payment system that took nine months to develop. This system will reduce the time to purchase an Artprice subscription by 300%. It can handle kiosk payments as well as the Apple Store, Facebook’s Instant Articles, V. me by Visa. It is also compatible with 4G, and 4G + LTE telecom operator kiosk systems in all countries and on all continents.
Artprice also announced that it has been developing a multitude of proprietary algorithms that allow the production of rankings concerning Europe’s and the world’s cultural players on social networks, notably via the “logarithmic commitment” which Artprice and Server Group owns under intellectual property law.
“These high-performance algorithms allow us to anticipate events with a rare degree of accuracy, a quality that is much appreciated by art market professionals,” said Artprice in a statement. “In addition, these algorithms can detect any attempts to fraudulently manipulate and/or unethically influence the social networks by, for example, creating fictitious audiences.”