Own Art News
Creative United Annual Impact Report 2015 - 2016
23 November 2016
Creative United have released their Annual Impact report for financial year 2015 - 2016.
It's been a great year for Own Art as we’ve continued contributing to the UK's creative economy by enabling galleries to generate income from sales made through the scheme.
In the financial year 2015 - 2016, the Own Art scheme provided 4,741 loans totalling over £4.2million in value. Many of these sales would not otherwise have been possible; our end of year survey told us that 83% of Own Art customers say the scheme enabled them to make their purchase.
Our findings show that Own Art plays a cruicial role in enabling access to owning original works of art. 24% of Own Art customers in the last year earned less than the national average income of £25,000 per annum, whilst 30% of customers in the last year were aged 35 and under. Own Art also encourages people to collect; 27% of the year's Own Art customers were first time buyers of art, but 99% of customers who used the scheme last year intend to purchase more works in the future.
Own Art benefits galleries and artists directly. 28% of our member galleries stated they experienced at least £11k worth of incremental sales. Of those galleries that are publicly funded, 85% experienced incremental sales because of the scheme - and this figure rises to 95% for commercial galleries. This directly translates into more sales for living artists.
We have big plans for the future of Own Art. With the introduction of Own Art Plus and Own Art Twenty in 2015/16, we will ensure as many people as possible in England, Scotland and Northern Ireland are offered the ability to onw a piece of contemporary art via interest free finance.