Corporate Art Collections:
Where do we stand?
Nathalie Moureau, a professor at the Paul Valéry University in France, introduced the first investigation about corporate art collections in France in collaboration with Axa Art France. This study explains the links between art, heritage and companies.
So today, Uart sums up this study with key figures and stakes.
Corporate collections are divided into two sections: firstly, there exist artistic collections, which are composed of artworks provided by artists and the art market- these represent 70% of the corporate collections. Secondly, there also exist the patrimonial collections, which are composed by artworks coming from the company. 58% of the patrimonial collections were born to add value to the historical heritage of the company. Patrimonial and artistic collections don’t have the same purpose or stance within a company. That is why Mrs Moureau decided to treat the two separately.
Most corporate collections are not visible to the general public; that is, 55% of artistic collections and 61% of patrimonial collections are not widely demonstrated. Yet, these are often used for communication purposes. Companies are more likely to use traditional communication strategies such as appearances in the press, whereas digital communication tools are still underused.
Art collections are widespread within both small and big companies. 48,5% of artistic collections are possessed by SMEs, though 42% of patrimonial collections are possessed by big companies.
Corporate artistic collections may have different purposes. Some were born from the director’s passion for art, some were created to improve internal communication, work environment, or even increase motivation. Also, there are collections that are built in order to give a good public image to the company and others to maintain the company’s social engagement.
Corporate collections are more widespread in some business sectors. Financial institutions and luxury companies are the most present in the art sector. Indeed, between 1960 and 1980, both in the US and in Great Britain, financial institutions were representing 65% of the total corporate collections.
In conclusion, find some key figures below all summed up in an info-graphic: