LONDON.- Innovative art tech company Vastari has launched two international reports to help museums use their resources more efficiently to produce successful exhibitions for their audiences.

Vastari surveyed over 500 international institutions to find out how museums across the globe create, finance and collaborate on exhibitions. Vastari has collated and analysed the data generated by the survey into two reports in order to provide museums with a valuable picture of how they can improve their own practices to generate income, build collaborative relationships and better serve their audiences. The reports also intend to raise awareness within the wider market of the constraints faced by museums.

These first editions of the reports are based on data from institutions primarily situated across Europe and North America. As more institutions around the world complete the survey, the reports will reflect the new data, providing an ever-evolving picture of global trends to enable exhibitions producers and museums to respond nimbly and use their resources efficiently.

Bernadine Bröcker Wieder, Co-Founder and CEO of Vastari, said: ‘Exhibitions are an important revenue stream in a time where museums and galleries need to behave increasingly entrepreneurially to build sustainable futures. We see the Vastari reports as invaluable tools in helping museums operate more efficiently and with an informed perspective on how best to collaborate, tour and finance their exhibitions. At Vastari, we believe that to share culture and knowledge is to keep it alive and we are inviting museums around the world to participate in this dialogue for the benefit of international audiences.’

Founded in 2012, Vastari is an online resource which connects exhibition producers, museums and galleries, private collectors and art logistics and administration companies around the world to improve the experience of bringing exhibitions to audiences.

Key findings of the reports include:

• There is a surplus of demand over the supply for Fine Art exhibitions, indicating that there is ample room in the market for producers of Fine Art content.

• Museums consider cost to be very important when choosing exhibitions, but rate exhibitions’ profitability as one of the least important factors.

• 30% more North American institutions host travelling exhibitions than European institutions, meaning that European exhibition producers could benefit more from transatlantic collaboration.

Ed Vaizey MP, Former UK Minister for Culture and the Digital Economy, commented: ‘This report will start a conversation on how to make exhibition collaborations work for museums that might have different practices and yet meaningful reasons to want to work together, by establishing common ground and creating clarity from the outset. An increased awareness of their peers’ priorities, best practices, and a look at industry trends, can truly help them to maximise the impact of their exhibitions.’

Museums and non-profit institutions will access the report for free, with further industry organisations able to subscribe to the report platform from October 2018. Vastari is inviting museums and galleries around the world to contribute to the report and build a wider picture of the global exhibition ecosystem.

Louise Hamlin, Director of the Art Business Conference, said: ‘This report represents a significant step forward towards an ecosystem that is both more transparent and more connected. The public and private sectors are vital to each other and a deeper mutual understanding can unlock value for both sides. A company like Vastari, which has made bridging the gap between private and public art their mission, is uniquely positioned to spearhead the change and disseminate knowledge from a non-partisan standpoint for the benefit of all parties.’