Visual artists are now on the bubble
Published 16-MAY-2016 16:02 P.M.
3 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Redbubble Limited (ASX:RBL) CEO Martin Hosking tells The Capital Network’s Lelde Smits how online marketplaces are helping artists connect with growing consumer demand for uniqueness.
Watch the video or read the transcription below...
Lelde Smits: Hello I’m Lelde Smits for The Capital Network and joining me here at Redbubble HQ (headquarters) in Melbourne is its CEO Martin Hosking. Martin welcome.
Martin Hosking: Thank you very much.
Lelde Smits: Martin you are the CEO of multimillion-dollar online art marketplace Redbubble. Could you explain to us where is demand coming from in this industry?
Martin Hosking: I think what we are seeing right now is the emergence of demand for unique individualised products. Historically an artist had to create and manufacture it for a single customer. What we are seeing now is with the print on demand technology artists can reach a global audience and by marrying it to that technology you are suddenly able to expand the nature of the offering.
So, consumers are wanting things that are individualised, which are personalised, which reflect their interests and concerns.
Lelde Smits: Like we’ve got around here, today, everywhere...
Martin Hosking: Exactly. And so suddenly technology is enabling that to occur. And, particularly that technology which I’m talking about is a print on demand technology. So a single product gets created for a consumer when they order it but it’s done in an incredible efficient way.
Lelde Smits: How many artists does Redbubble have on its platform and what kind of money are they making from being a part of Redbubble?
Martin Hosking: Right now we have just on 400,000 artists from all over the world on Redubble. Since we launched in 2006 artists have made over $44 million on the platform.
Just to give some context, the Australian Council for the Visual Arts will give out around about $20 million a year to the visual arts. So, artists right now are earning more right from the Redbubble platform then they are from government sources.
Lelde Smits: So Martin, what are the most popular products that are capturing the attention of users from the artists?
Martin Hosking: So what we’ve found over the years is that consumers want to have the art in their lives. So, that means they’re interested in t-shirts, they’re interested in iPhone cases, they’re interested in cushions and duvet covers. So, the things which you can decorate and make your life a little bit interesting because you’ve found something which resonates with you in the Redbubble marketplace.
It’s very hard, people ask me what are the most popular designs on Redbubble. The simple reality is that it’s incredible diverse. 65% of sales of all sales on Redbubble are from works that have been sold 50 times or less. So there is just a diversity of human interest, it’s not about a lot of people buying a single design, but a lot of designs for a lot of people.
Lelde Smits: Well that’s certainly means there is opportunity out there for everyone as well to get involved.
Martin Hosking: It is opportunity for consumers, right now Redbubble has about 10 million images on the site – so you will find something which interests you. From an artist’s point of view though – you will as an artist, provided you have something interesting to say, some interesting work – you will find a consumer who is interested in whatever it happens to be. Fighting pandas, Ninja unicorns, all of those things. You can create content and you will find the consumers which are interested in it.
Lelde Smits: Awesome, well I will be sure to check it out but thank you for speaking with us today.
Martin Hosking: Thank you very much.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.