This Is the Experience Economy

Jim has written about the value people place on live entertainment and how it continues to rise. In Zachary Small’s article for Artnet News, Small points to a museum in New York that’s capitalizing on the experience economy.

Fotografiska New York “is looking to create an immersive experience,” writes Small.

He continues: “The museum is betting that in a city where tickets to the Museum of Ice Cream cost $38, visitors will be willing to pay for the privilege of experiencing photography in a way that feels more like socializing than doing homework. … At Fotografiska, doors are often open until midnight to accommodate events like DJ sets and artist talks. Visitors can wander through the galleries with cocktails in hand before descending to the second floor’s restaurant, Veronika, named after the patron saint of photography and operated by the famed restaurateur Stephen Starr.”

Yoram Roth, Fotografiska New York’s chairman and majority shareholder, explains: “Nowadays, it’s important to make art around experiences. Standing in front of a photographic print is magic, and that’s not going away. The question is: How can we top that?”

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