28 Nov The UK art market is the second largest globally and supports 37,000 jobs
The United Kingdom remains a key player in the global art market, despite facing its challenges with funding cuts and budget restrictions. In 2022, the UK was ranked as the second-largest art market globally with total sales of £9.7 billion, with London at its epicentre. Furthermore, the art market has supported 37,900 jobs and continues to play a vital role in cultural and economic influence. The International Body of Art (IBA), an arts company which helps launch the career of underrepresented artists through its public exhibitions programme – on its proprietary platform ‘Projects’, has launched to supportemerging artists develop their careers in the arts.
The first-of-its-kind platform provides a vital lifeline for underrepresented creatives, allowing funders to both sponsor and connect with the artists. With proprietary research stating that 26% of artists have had to abandon their careers in the arts due to limited financial prospects, and 29% of ethnic minority artists watching their white peers’ careers progress further than theirs, the platform facilitates an intimate connection between donors and artists who fall outside of the traditional bounds of the art institution. Highlighting the dire need for initiatives such as this, individual grants from Arts Council England for UK artists declined by a staggering £5.2m year on year between 2008 and 2019, often with ethnic minority, working class and female artists being disproportionately affected.
Within the context of a £2.2bn industry, the art world is one of the most homogenous sectors – with stats from the Smithsonian revealing that 85% of the artists featured in permanent collections are white and 87% are men. Serving as the antithesis to the art world’s elitism and the hazy market-driven control, IBA gives underrepresented artists a platform, both in the form of their quarterly exhibition programme and by helping artists acquire funding through their first-of-its-kind crowdfunding platform. Backers who choose to support IBA are introduced to the inner workings of curating an exhibition and have the opportunity to collaborate and engage with the artists – offering insight into works and ideas that aren’t given adequate light in mega galleries and institutions.
To this end, IBA’s proprietary research has revealed that a staggering 35% of ethnic minority artists have had to abandon a career in the arts due to having limited financial backing, and separate reports show that just 7.9% of professionals within the creative industries come from working-class backgrounds. The barriers to entry in the art world are varied – low-paid jobs, less-than-favourable working conditions, and a culture seeped in nepotism means that many artists and art enthusiasts remain discouraged from pursuing careers in the industry.
To contribute to a project there are various options of different values, ranging from £5 to £1100. With each contribution, there are different ‘rewards’. These can range from a signed ‘thank you’ note, to private premier invitations, 1-on-1 Q&A calls, or even an extended meditation session with an artist. Having been created by the artists themselves, each reward is tailored to its project, meaning that funders are sure to receive a reward that they love based upon which project they connect with and contribute to. With proprietary research unveiling that almost 1-in-4 art investors (21%) are actively looking to support underrepresented artists, ‘Projects’ allows early-stage art collectors to connect with some of the country’s most promising emerging artists, with the aim of breaking down the barriers to entry for both artists and art enthusiasts.
Below are a few artists that will have their work debuted on the ‘Projects’ platform:
“IBA provides the opportunity for artists to be true to themselves. Because of this, I’m able to compel my honest story to the whole world, unmediated by the rhetorics of larger institutions who want to control my narrative. This project is a matter of personal and artistic integrity”.
Malik Marble, Project titled “If I Died 2NITE”.
“IBA gives rise to a new paradigm of art making, one that encourages originality and reignites the spark of possibility.”
“Working alongside IBA is an empowering space of being acknowledged and trusted to work outside of the traditional art frameworks”
Tiffany Singh, Project titled “Vermillion Rising”
April Kelly, IBA’s project manager, comments on ‘Projects’ aims and the need to support emerging artists:
“In our artist support and exhibition curation, we always ensured that artists felt that they could be experimental, that they could take risks, and that they could be supported in creating honest, passionate, and personal works. After an early exhibition, we experienced artists thanking us for giving them this freedom- it was then that we realised how profound the problems of the art world are.
“Its rigidity does not simply affect access, but it continues to dictate from within the work of artists. The traditional market almost forces artists to keep making the same works that are instantly sellable and recognisable, so it doesn’t actually allow any room for innovation. That’s what we want to be here for.
“On the other side of things, throughout our time organising exhibitions we’ve consistently had the audience thank us for creating an art space that is unpretentious and community-focused. We always have our artists present throughout the shows and try to facilitate a welcoming atmosphere. The understanding that these kinds of environments are missing in the art world further informed the development of ‘Projects’ – the community aspect of this and the involvement of the audience is as important as anything else.”
CEO of the International Body of Art, Maria Artool, comments:
“ ‘Projects’ serves as a unique platform in the realm of visual arts. Its distinctiveness is rooted in its unwavering commitment to addressing a crucial issue in the creative industries. With each project tackling crucial issues of underrepresentation in the sector.
“What truly sets IBA’s Projects platform apart is its focus on community. It’s not just about funding projects for the sake of it; it’s about becoming part of an extraordinarily diverse, open-minded, international, and innovative community that thinks outside the box and challenges barriers.
“While individual projects offer their own set of rewards that align with their artistic goals, the platform as a whole provides a space for art lovers and enthusiasts to actively shape the future of the art world. By selecting which projects should receive funding and be brought to life, backers are invited to play a unique role in defining the future of art. They become an integral part of the artistic process, which is a structure that is the first of its kind in the industry.
“In this vision, IBA is nurturing a beautiful and promising community that’s breaking new ground in the world of art.”
