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“It’s a long-term trend that we see continuing.” A digital future? “Clearly over the last 50 years we’ve seen a huge expansion in the art world,” Slotover says. But the company is coy about further expansion plans.
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Frieze currently runs three fairs: Frieze and Frieze Masters, in London, and the New York fair this week. She anticipates that the new sponsorship deals through the agency – this year’s fair is supported, as it has been for five years, by Deutsche Bank – may “take some of the weight off exhibitors”.īut the larger purpose may be to push the experience of art deeper into the broad cultural realm, says Slotover. Sharp has heard this criticism that her fair is the tail that wags the dog, and that the expense of showing, especially for middle-market galleries, is burdensome. Artists too find that they are under pressure to create new work for fairs, not as part of an exhibited body of work. If sales are only made at fairs, the thinking goes, costly gallery spaces begin to lose their purpose. Gallerists frequently complain that while art fairs are important for sales and meeting new clients, they have also become financially onerous and distracting. The WME-IMG hook-up is advantageous in terms of leveraging existing service contracts and back-office organisation, but Frieze has also been coming under pressure from exhibitors to reduce their burden of the costs. No one was expecting it.” Emanuel, Sharp adds, “treats us like artists, and he put us in the driving seat”. Sharp told the Guardian: “The deal came out of left field. The deal is one of the first since the agency sold a stake to Japan’s Softbank that valued the company at $5.5bn. Last week, Frieze executives Amanda Sharp and Matthew Slotover explained that the deal underscored the reality that the art fair now requires management expertise honed at sports or fashion market week events.
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Three years ago, Emanuel forged a $2.4bn deal merging William Morris (by then William Morris Endeavor) with IMG, a company known for representing sports stars and fashion models, as well as staging and TV licensing for sports events and 32 fashion weeks around the world.
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The deal places Frieze, currently celebrating 25 years since it began publishing an arts magazine, in the company of top Hollywood stars and athletes, including Matt Damon and Serena Williams, as well as the Professional Bull Riders franchise and the Miss Universe pageant, formerly owned by Republican presidential contender Donald Trump. He praised the fair as “an incredible offering for the global art community”. While Frieze has yet to outline the terms of the deal, the London-based firm was approached by WME-IMG’s Ari Emanuel, a former Hollywood talent agent (he’s the brother of Chicago’s embattled mayor Rahm Emanuel and the model for Ari Gold in HBO’s Entourage). Despite investment in the digital sphere, including auctioneers Sotheby’s and Christie’s use of online video to introduce art sales and a handful of direct sales sites, art has been slow to find its online footing. The market may change further with what Frieze executives call the “under-explored” area of online art, including virtual reality. Wimbledon, in June, counted half a million Frieze in London, in October, 55,000 visitors. If WME-IMG – which has its roots in Hollywood’s most venerable talent agency, William Morris – can manage golf and tennis tournaments, including Wimbledon, art should not pose too many problems, the thinking goes. While the market is still minuscule in terms of active collectors, the business is scaling up in terms of visitors with shows such as Frieze and Miami’s Art Basel attracting huge crowds. Though not the first such deal, WME-IMG’s agreement with Frieze underlines a trend in art. The deal raised a few eyebrows, and posed questions about the future of the tightly controlled gallery system that still rules much of the art world but has become increasingly dependent for sales on art fairs.
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It’s also bringing, as a contemporary art show should, the scent of something new.Īhead of the 5-8 May show on Randall’s Island in the East River, the UK-based art exhibitor announced a partnership with Hollywood agency giant WME-IMG.
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And Frieze, the annual contemporary art show, is preparing to unleash a live donkey, a professional pickpocket and live snails on an art-hungry New York public. The tent is up and the dealers are in town.