An institution that gained prominence throughout New York City’s art community has announced its permanent closure, which follows after this location initially entered shutdown protocols associated with NYC Covid-19 Measures & reopened with minimal attendance. The institution shutting its doors permanently is “Red Bull Arts Studio”, which first became operational in 2014. Studio dedication towards creating exhibitions of cutting-edge artistic creativity won’t be forgotten. Unfortunate for this institution, financial losses relating to the pandemic couldn’t sustain continued operations. It’s the same story that countless entertainment & educational facilities have experienced since March 2020.
A representative with Red Bull Arts Studios final outing was November 15th, 2020. Monetary profits associated with exhibitions became dismal & started costing the corporate division prominent funds, which forced the institution’s closure. Regular shows related to this institution aren’t rescheduling themselves at Detroit’s Exhibition Centre for 2021. When questioned on the possibility of reopening, corporate representatives said that it’d financially be unfeasible for decades.
The corporate division released an official statement about Red Bull Arts Studio closing. Emphasis was issued that commitment towards New York’s art community is relevant at Red Bull, with supported projects entering the grassroots level. Notable artists that formulated relationships with the corporate division revealed that Red Bull’s corporate division hadn’t contacted them since closing the institution. This indicates that sentiments evoked by Red Bull weren’t genuine & were meant to divert community criticism.
Sports Over Art
Corporate funds for sporting partnerships & agreements with Red Bull haven’t been eliminated, with either advertising finances being terminated either. Priority for corporate importance has been defined by this announcement, with Red Bull holding greater loyalty towards sports than art. Considering that sporting institutions award the corporate division with millions in yearly profit, it’s unsurprising. Artistic communities partnered with Red Bull hardly affect revenue streams for the corporate division.