Artists face persistent financial challenges, often trapped in the "starving artist" cycle, where their immense creative contributions yield minimal economic rewards. Despite the U.S. art market boasting millions of talented individuals, approximately 75% earn less than $10,000 annually from their work, with female artists disproportionately affected. The gap between the financial realities of artists and their non-artist peers continues to widen, with artist earnings declining by 15-30% relative to other professions over the past decade. Art schools prepare artists to create but rarely teach them how to monetize their creations. This lack of business education leaves many artists financially and economically inept, ill-equipped to navigate the complexities of the art industry. Critical topics such as scaling an art career, understanding why the wealthy invest heavily in art, and becoming established within the market are often overlooked. Artists are unaware of how to negotiate contracts, price their work, or build financial independence, leaving them reliant on intermediaries like galleries, which typically take a significant percentage of all proceeds from art sales at their exhibitions. Market saturation further compounds these struggles, with over 8 million artists vying for visibility in a highly competitive landscape and limited gallery representation prioritizing those with established commercial success. Even as technology democratizes access to markets through digital platforms, it has simultaneously contributed to overwhelming market saturation, leaving many talented artists undiscovered and underpaid. Economic pressures, including the rising cost of living, force many artists to rely on supplementary income, with professional art practice often representing just a fraction of their overall earnings. Meanwhile, debates around the value of human-made art versus digital art add uncertainty to the future of traditional artistic practices.
