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ArtUP.com and AOL Sign Internet Marketing Agreement
ArtUP.com Features Online Art Auction, Art Retail Network and Offers
Art Business-to-Business Transactions
PHOENIX, Sept. 28 /PRNewswire/ -- ArtUP.com Networks
(OTC Bulletin Board: ARTJ) announced that its ArtUP.com (http://www.artup.com)
web portal which serves as an international network for artists, galleries and
collectors to build relationships and transact business, has signed a Internet
Marking Pact with longtime Internet leader AOL (NYSE: AOL). Artup.com has
signed a Gold Tenant agreement with AOL that will prominently position
ArtUP.com and its artwork for sale and auction on Shop@AOL, "the most
profitable shopping destination for online retailers", according to Forrester
Research. Shop@AOL expects to reach 53 million people or approximately 81% of
those who visit online services or the Web every month (source: Media Metrix,
Aug. 1999). ArtUP.com Networks was formerly known as Deerbrook Publishing
Group, before changing its name to reflect the company's added focus on
creating an all-encompassing Internet art network.
"ArtUP.com is the first international Web portals focusing exclusively on
the multi-billion dollar art industry and AOL (www.aol.com) is one of the few
major Internet companies that have worldwide name recognition. With the help
of a highly targeted AOL marketing program, we should be able to pull together
the highly fragmented art industry into an interactive international network
of artists, galleries, suppliers and collectors. Over 25,000 new AOL users
shop online for the first time ever everyday. That should mean a tremendous
amount of traffic heading to ArtUP.com," says Keith Chesser, president of
ArtUP.com Networks.
Because ArtUP.com will be a vast worldwide network of artists and
galleries with alliances with many of the biggest names in the Internet, other
online art-related sites will want to partner with ArtUP.com to boost their
exposure, rather than try to attract enough visitors on their own to be
successful. ArtUP.com will be a pipeline that funnels various segments of the
art world together in a central location. It serves artists, galleries,
suppliers and art collectors without disrupting any of the sales channels that
already exist. Over 1,000 galleries and artists have already registered with
ArtUP.com.
ArtUP.com's business model is unique compared to many other Internet
portals in that there is no negative price pressure in the art industry. Art
is collectible and as such, everyone -- from the artists and galleries to
collectors -- has a vested interest in maintaining the high value of art.
Devaluing a collectible object, by nature, defeats the purpose of collecting.
Demographics look promising as well. ArtUP.com targets collectors who have
more disposable income than time and earn $50k+ per year. As a result,
ArtUP.com believes its market estimates will be more reliable than those of
many other Internet companies. ArtUP.com conservatively projects its sales
revenues to reach $17 million in fiscal year 1999 and $176 million by 2003.
As a comparison, online auctions alone are predicted to reach $19 billion in
2003 -- source: Forrester Research.
Independent auctions held by galleries and artists in ArtUP.com's A.R.T.S.
will be art-only alternatives to the unfocused auctions run by popular
services such as Yahoo, eBay and Microsoft. Microsoft announced last week
that it was entering the online auction market by partnering with services
like Lycos and Excite @ Home. Showstar Online.com announced recently that it
was attempting to enter the online art auction market as well through its
yet-to-be-launched site, ArtStar.com.
ArtUP.com consists of several areas. In addition to a virtual gallery,
there is a private area specifically for the art trade, a site designed
especially for children, and even a section where visitors can go to learn
about new and up and coming artists. Items for sale on the site include
limited edition prints, original works of art, prints and posters as well as
art-related services, such as framing. ArtUp.com derives its inventory
primarily from galleries and artists who are part of the network. The site
functions as an online catalog and community center where art is bought and
sold via catalog and auction and discussed in public and private forums.
Special events like art walks with recommended wines, art shows and private
collection exhibits are some of the fun activities that will be available for
visitors.
ArtUP.com Networks, the parent company of ArtUP.com, and its key people
have a long track record in working with the American art community.
ArtUP.com Networks' other subsidiaries, Signature Editions, Inc. and Cimarron
Studio, Inc., already has established relationships with very well-known
artists, including printing relationships with Russell Chatham and Liliana
Frasca, a top performer of the American Express catalog. Signature Editions'
products include original works of art from these artists, as well as limited
edition prints from original works, and they will be sold through ArtUP.com as
well.
About AOL
Founded in 1985, America Online, Inc., based in Dulles, Virginia, is the
world's leader in interactive services, Web brands, Internet technologies, and
e-commerce services. America Online, Inc. operates: two worldwide Internet
services, America Online, with more than 18 million members, and CompuServe,
with approximately 2 million members; several leading Internet brands
including ICQ, AOL Instant Messenger and Digital City, Inc.; the Netscape
Netcenter and AOL.Com portals; the Netscape Navigator and Communicator
browsers; and AOL MovieFone, the nation's 1 movie listing guide and
ticketing service. Through its strategic alliance with Sun Microsystems, the
Company develops and offers easy-to-deploy, end-to-end e-commerce and
enterprise solutions for companies operating in the Net Economy.
The statements made by ArtUP.com Networks (ArtUP.com) may be
forward-looking in nature. Actual results may differ materially from those
projected in forward-looking statements. ArtUP.com believes that its primary
risk factors include, but are not limited to: the need for substantial
financial requirements; the need to develop effective internal processes and
systems; the ability to attract and retain high-quality employees; changes in
the overall economy; changes in technology; the number and size of competitors
in its markets; changes in the law and regulatory policy; and the mix of
product and services offered in the company's target markets. Merger
Communications (Merger) is a media relations firm employed by ArtUP.com. The
statements and opinions presented here represent the views of ArtUP.com, not
Merger, as the release is based on the information provided by ArtUP.com.
Merger and ArtUP.com believe that all information in this release has been
obtained from sources considered reliable, but cannot guarantee that the
statements presented herein are accurate or complete. Merger's compensation
for its media relations services, including preparation of press releases,
consists of a monthly retainer and warrants. Merger and/or its employees may
have a long position in the securities of the companies in which it
distributes information to the media, and Merger may be buying or selling
securities in the course of its regular business.
SOURCE ArtUP.com Networks
-0- 09/28/1999
/CONTACT: Patricia Cunningham or David Drake, both of Merger
Communications Inc., 713-267-2328, or mergerusa@prodigy.net, for ArtUP.com/
/Web site: aol.com
artup.com
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4383 09/28/1999 07:59 EDT prnewswire.com
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