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ANIMATION SHORTS FEATURE FILM NEWS GAMES NEWS Investment in animated How deep pockets The global finance shorts meeting demand have abetted Disney's landscape is propping to feed zooming digital dominance of Hollywood up esports and gaming screen time Page 28 In full edition only businesses In full edition only MediaTainment (Abridged) Finance Issue 31 For decision-makers and strategists who value creativity and www.mediatainmentfinance.com appreciate the value creativity brings to business THE ASCENDANCY OF AFRICAN ARTISTRY Contemporary African art in the frame for investors' and collectors’ cash Experts hail the region's ferociously hot talent Pages 16-27 COPYRIGHT NEWS FASHION NEWS ARCHITECTURE NEWS Rights organisations report a boom La Perla's impressive Big cash for big structures in media and entertainment royalties IPO signals perceived sees cutting-edge BIG collected in 2018 to the tune of growth in luxury remain the behemoth of €9.65bn In full edition only lingerie-design sector architecture In full edition In full edition only Editor’s Note Contents NEWS or one of our most adventurous and visually rich issues yet, we visited art 3 Film p 9 Books/Print p galleries in Africa to understand the 4 Television p 10 Ads & Marketing p fuss investors are making about the continent’sF contemporary artists. 5 Music/Audio p 11 Fashion/Luxury p We talked to gallerists on the ground and 6 Out-Of-Home p 12 Architecture/Design p international auction houses, like Sotheby’s, and discovered a treasure trove of eye-catching and 7 Sports p 13 Photography/Art p distinctive modern African fine art, sculptures, 8 Games p 14 Copyright p murals, woodwork, installations and more. We then examined why Europe’s former African colonies want international museums to return the region’s purloined cultural heritage, including irreplaceable tribal artworks. NEWS NEWS Additionally, a recent invitation to speak FILM TELEVISION in South Korea about digital animation shorts inspired our in-depth report on the format normally associated with only children’s Disney's Banijay/ entertainment. Investors, from Hollywood studios to cutting- Dynamo ViacomCBS edge independents, are building portfolios of mesmerising short-form animated fun for all age groups. Meanwhile, this edition continues our overall mission – to be jam-packed with news on the latest major investment deals in international In full edition only In full edition only media, entertainment and creativity. As this is our last issue for 2019, Happy h h Holidays and wishing you all nothing but the Best in 2020. Juliana Koranteng FEATURE FEATURE editor-in-chief SPECIAL REPORT CREATIVE email [email protected] COMMENTARIES twitter @mediatainmentMT African Animation Main image on cover: Mary Sibande’s Cry Havoc, from The Purple Shall Govern series Art Shorts NAVIGATION Click on the p symbol to go directly to that page. Click on the S symbol to return to this page. h h SUBSCRIPTION 4 16 To subscribe to the most enriching and enlightening aide to your media and entertainment business strategies, contact REGULARS [email protected] 23 MTF Diary p 24 About MTF p MediaTainment Finance 31 S P2 U V technology + innovation x human ingenuity = creativity2 U V count on techmutiny for the latest stories on technology impacting the creative industries… and more U V techmutiny.net V news feature MediaTainmentFinance Special REPORT Spotlight on African Art's Ascendancy From Omar Victor Diop's Project Diaspora WHY COLLECTORS CRAVE FOR AFRICAN CREATIVITY- PAGES 17-27 Images in this report: Courtesy of Gallery 1957; Artists Alliance Gallery; Bonhams; Sotheby's; Goodman Gallery; jaykaymediapix MediaTainment Finance 31 S P 4 feature The Ascendancy of African Art Afrocentric Image - from Artists aesthetics Alliance Gallery n 2017, the long-lost iconic portrait hailed as University announced “Africa’s Mona Lisa” was rediscovered in a it was returning London apartment. One of three depictions the Benin Bronze of Princess Adetutu Ademiluyi painted in the Cockerel to Nigeria, 1970s, the Tutu (pictured, right) portrait by its country of origin. Nigerian artist Odinigwe Benedict Enwonwu The bronze statue was grabbed headlines for fetching a record- illegally seized during breaking £1.2m (US$1.6m) at a 2018 London auction, four colonial times in the timesI the £300,000 (US$399,749) estimated price. late 19th century and Nowhere near the multimillions exchanging hands for later donated to the your Andy Warhols or Lucian Freuds, but enough to show university’s Jesus why contemporary African art is hot among collectors in College. the 21st century. The College’s As Victoria Cooke, Director at the privately owned apparently bold move Gallery 1957 based in Accra, capital of the West African is seen as correcting state Ghana, told MediaTainment Finance (MTF), African one of several wrongs art is no longer only the preserve of stuffy museums. committed during an “There is definitely a boom in this part of the world. era when the European Artists are getting much more recognition. That is not looting of the colonies’ to say it wasn’t here before. We live in a different world cultural works is where people travel more, people discover more. The acknowledged as Internet allows you to communicate your art and allows having been rampant. people to see that.” The significant price paid for the Tutu painting and This year, some two years after the recovery of the Cambridge’s restitution of the bronze statue both point to lost Tutu royal painting, the UK’s prestigious Cambridge international investors’ growing interest in, and the still MediaTainment Finance 31 S P5 feature SPECIAL REPORT: African Art's Ascendancy evolving value of, such previously marginalised art. Sidelined no more “Interest has been strongly felt for a number of years For decades, most people have associated Sub-Saharan and Sotheby’s own entry into the field in 2016 was very African art with the centuries-old artefacts on display much in response to the thriving market, which had been at major strait-laced museums and art institutes in expanding for over a decade,” states Hannah O’Leary, developed countries, especially those in Europe and North (pictured, below) Head of Modern and Contemporary America. African Art at the international auction house Sotheby’s. The gaze of private collectors is, however, turning towards some of the most eye-catching visuals and cutting-edge works currently on the market, says London-based Giles Peppiatt (pictured, below), Director of Modern & Contemporary African Art at Bonhams, the international auction house that hosted the Tutu sale. In addition to fine art and classic paintings, works created by artists from the Sub-Saharan region are highly varied. They include multimedia installations, photography, performance art, woodwork and sculptures. Some specialise in body art, graffiti and murals. Others bring an element of sci-fi, new tech and cyberpunk into the Afrofuturism format. Then there are the political and social statements seen in Afrogallonism, collages made from recycled materials, like the gallon-sized yellow plastic containers used for carrying water where there is a shortage. Traditionally, aspiring artists have had to rely on street sales combined with other trades to make a living. Today, “Over that period, I saw first-hand an exponential many still do. However, more are discovering the financial increase in market demand from collectors across the and professional benefits of having their works placed in African diaspora, as well as international art collectors curated galleries by expert dealers. and influencers who were embracing art from Africa as They are equally proficient at using social media to exciting, innovative and relevant.” reach global audiences long before their participation at She continues: “I am extremely proud to have sold international exhibitions and art fairs reinforces their some of the most expensive African artworks of all time, reputations. including setting the current world records for some of my “This is not a blip or a fad. We started selling African art favourite artists like Gerard Sekoto, Irma Stern, Njideka about 15 years ago. Back then, it was tough going. There is Akunyili Crosby and Yinka Shonibare. Works from artists no doubt that it is one of the fastest growing areas in the across the African diaspora are climbing to astonishing art market,” Peppiatt declares. “Having started, it is great heights on a truly global platform.” to have our faith confirmed. So, we took the view that it In some ways, the ascendancy of African art is also was worth having standalone sales.” evident in the impact it is already having on modern-day Bonhams now operates two Modern & Contemporary popular culture. African Art sales a year: in London and in New York. The British-Liberian artist Lina Iris Viktor sued US singing next New York edition is scheduled for May 2020. stars Kendrick Lamar and SZA for allegedly using her work in the music video for All the Stars, a song on the soundtrack of Black Panther, the 2018 Marvel superhero movie from the Walt Disney Company that netted a record-breaking US$1bn-plus in box office receipts. The dispute was settled out of court in December 2018. Nigerian body painter Laolu Senbanjo collaborated with singing superstar Beyoncé on her 2016 Grammy Award- winning music-video album Lemonade. Kenyan commercial photographer and visual artist Osborne Macharia, on the other hand, has contributed to the artwork in several major advertising campaigns, the US
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