10 Latest News In Art Industry 2024

As the art world is set to rebound to its pre-pandemic heights, 2024 is shaping to be a landmark year. According to the Art Market 2024 report by economist Clare McAndrew, we’re expecting to see around 377 art fairs globally. This is a significant increase from the mere 133 fairs in 2020, inching closer to the 2019 peak of 408. Let’s delve into some of the major art events and 10 Latest News In Art Industry to look forward to in 2024.

1. The Venice Biennale in 2024

20 April – 24 November 2024

The Venice Biennale, the most prestigious and oldest-running art event, will open on 20 April, marking its 60th edition. The 2024 theme, Foreigners Everywhere, curated by Adriano Pedrosa, will spotlight artists who are foreigners, immigrants, or exiles, particularly those traversing between the Global South and North. Details of the Venice Biennale 2024 have already started to be announced, including the participation of the United Republic of Tanzania, which will have its first Venice Pavilion, while Australia will be represented by First Nation artist Archie Moore. Benin will also stage its inaugural pavilion in tandem with the 2024 Biennale.

10 Latest News In Art 2024

The 60th edition of the Venice Biennale is set to open on April 20, 2024.

2. Frieze Los Angeles 2024

29 February – 3 March 2024

Frieze Los Angeles is kicking off the year for the Frieze circuit in February. The art elite will gather under the WHY studio-designed tent, featuring over 120 galleries in the Barker Hangar. Highlights include works by Ed Ruscha, Jennifer Bartlett, and Alighiero Boetti. Those not in LA can catch the Frieze experience later on throughout the year in New York (May 1-5, 2024), Seoul (September 4-7, 2024) and London (October 11-15, 2024).

10 Latest News In Art 2024

Rendering of Frieze Los Angeles’ 2024 structure. Credit: WHY Architects.

3. The art world aims for more sustainability

In the art world, sustainability, eco-art, and ethical practices are expected to gain increased attention and implementation in 2024. This trend is a reflection of growing concerns about environmental issues and a movement towards a more sustainable art world. There is a rising popularity of works that focus on themes of environmental and cultural conservation, while galleries are increasingly adopting eco-friendly production and distribution processes. A generation of deeply committed artists responds critically to ecological changes, representing more than just an economic decision to address these pressing issues before it’s too late to reverse them.

10 Latest News In Art 2024

Seung-taek Lee, Earth Play at Art Basel Miami Beach. Courtesy of Art Basel.

4. AI Art controversies intensify

The role of Artificial Intelligence (AI) in the creation of digital art continues to be a contentious topic in 2024. As AI technology advances, its use in art creation has generated controversy about originality, authorship, and the nature of creativity. One particularly striking aspect of this controversy is the phenomenon of ‘data poisoning,’ where artists intentionally sabotage AI algorithms to challenge the ethics and implications of AI-generated art. This tension highlights the ongoing struggle between traditional artistic processes and the burgeoning field of AI, raising crucial questions about the future of art in the age of technology.

5. The hyper-sentimentalism boom is far from slowing down

In 2024, hyper-sentimentalism will continue to gain momentum in the art world. The term ‘hyper-sentimentalism’, coined by Artnet’s Kate Brown, can be defined as a sensibility more than a formal aesthetic style. It involves the depiction of intimate, emotional scenes, often portraying the artist’s own social circle or community. In an era dominated by digital interactions and social media, individuals can emphasize personal, intimate connections and real-life relationships as a counterpoint to hyper sentimentalism. As people increasingly seek authenticity and meaningful interactions in a digitally saturated world, this art form continues to resonate strongly.

6. Vera Molnár at Centre Pompidou (February 28—August 26)

Centre Pompidou is honoring Vera Molnár, the Hungarian-born artist who has been called the godmother of generative art for her pioneering generative works, with a retrospective from February 28 to August 26, 2024. Molnár, who passed away in 2023 at the age of 99, achieved artistic breakthroughs using early coding languages and mechanical plotters in the 1960s. This retrospective will span her career from 1946 to 2023, showcasing her innovative exploration of systems and randomness in art.

Portrait of Vera Molnár from 1961. Courtesy of Galerie Oniris, Rennes.

7. Art Trends in 2024

Moving on to 2024’s art trends, we see a mix of optimism in the market, a stronger focus on sustainability, debates around AI in art, and the continued popularity of the hypersentimentalism movement. Let’s take a closer look at the key trends shaping how the art world is responding to today’s economic, technological, and environmental challenges.

  • Nature and Art: The fusion of nature and art will continue to offer serene escapes within our homes. An exclusive gallery ‘Arts Fiesta‘ offers this amazing combo masterpieces for you to shop and explore.
  • Ethical Choices: Ethical and sustainable art choices will gain prominence, reflecting a conscientious approach to collecting.
  • Vibrant and Bold: Artwork that is vibrant and bold will add personality and energy to living spaces.
  • Tactile Textures: The tactile appeal of textured art will provide a grounding, human connection.
  • Dimensional Decor: Sculptural elements in decor will introduce movement and depth.
  • Art for Every Space: Smaller artworks will cater to the needs of compact living spaces.
  • Portraiture Reimagined: Modern portraiture will offer new perspectives on a timeless genre.
  • Expressive Creativity: Expressive line work will be celebrated for its fluidity and freedom.
  • Handcrafted Beauty: The authenticity of hand-painted art will bring a personal touch to home decor.
  • Wallpaper Murals: Large-scale mural wallpapers will transform spaces with bold, immersive designs.

8. Art market outlook for 2024

Despite economic challenges like high inflation and ongoing global issues, 77% of HNW collectors are optimistic about the art market’s performance in the upcoming six months. The Art Basel and UBS Survey of Global Collecting in 2023 also revealed that in 2024, 54% of HNW collectors plan to buy art, mirroring 2022 trends.

Mainland China, Japan, Brazil, and Italy show heightened buying interest compared to previous years. Paintings remain the most sought-after, followed by sculptures and works on paper. However, there is a decrease in collectors planning to sell their works, dropping from 39% in 2022 to 26% in 2024, as many anticipate an increase in the value of their artists’ work

9. I.M. Pei: Life is Architecture at M+ Museum (June 29—January 31, 2025)

M+ Museum in Hong Kong presents the first comprehensive survey of I.M. Pei, the renowned Chinese-American architect, from June 29, 2024, to January 31, 2025. The exhibition, co-organized by Shirley Surya and Aric Chen, will feature architectural drawings, sketches, videos, and models of Pei’s iconic works, including the Louvre Pyramid. It aims to celebrate Pei’s transcultural vision and his impact on global architecture. Newly commissioned photographs of his buildings by contemporary photographers will also go on display.

10. Art X Lagos, Nigeria

31 October – 3 November 2024

Since its inception in 2016, Art X Lagos has become a cornerstone of the African art market. The fair, which hosted over 40 artists and galleries from Africa and beyond, bridges the gap between continent-based and diasporic artists. It leverages Lagos’s dynamic gallery scene and the growing collector base in Nigeria and across the continent.

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