Revenue Streams

INCREASED AUDIENCE = HIGHER REVENUE

Application of BITE CAMB is increasing the attractivity of cultural operator and contemporary visual art exhibited, and more and more young people are becoming a consumer of the content that cultural operator is offering. Once the cultural operator increases the number of its audience, it is becoming more attractive for potential sponsors, while public owned for government support. In both cases, by increasing its attraction, cultural operator is strengthening its legitimacy, authenticity and brining wider social recognizability. Capitalization of these benefits brings higher revenue for cultural operator. Through BITE of Art communication channels cultural operators are getting international visibility towards new potential audience.

NEW AUDIENCE = NEW BUYERS

Making a “hype” out of contemporary visual art, among young population is rising a price of contemporary artworks. It cannot be done at this moment, or in short period of time. It is a long-term process of attracting and maintaining audience. The purpose of BITE CAMB is to help to cultural operators to strategically in long-term period attract and build this target audience. Then, the segments out of new audience to transform into new contemporary art consumers and buyers.

Using new digital tools in communication, such as VR 360, BITE IoT or BITE Art Tour at the BITE mobile app is helping cultural operator to reach segments of an audiences they couldn’t reach before, as well as to use it for art exhibiting when physical access to their spaces is limited.

By application of the BITE Virtual Gallery element cultural operator is reaching one entirely new universe of potential buyers, with representing artists without mediator with the lowest trade commissions. Through their appearance in this type of virtual galleries, and thus by representing artists, cultural operators overcome various limiting factors, such as: exhibition space, working hours, lack of finances, etc.

STRATEGIC PLANNING APPROACH = NEW FUNDING SOURCES

With the application of strategic communication planning for each event, project, or programme, with the use of offered BITE digital communication tools, it will be significantly easier for cultural operators to attract business sector sponsorships, as well as government funds.

The business sector predominantly views the target group of young people under 30 as a group with great consumer potential, and by innovating in communication with this audience, as well as in products and services aims to attract segments of this population.

For the government funds, any long-term strategic planning is almost obligatory, and the partnerships with the cultural operators (private / institutional / non-profit) who think and work strategically is desirable.

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