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On the evening of November 20, Sotheby’s auction house sold an artwork by Maurizio Cattelan for an astonishing sum. The piece, entitled Comedian, is not a conventional painting or sculpture. It consists of an ordinary banana, duct-taped to a wall at a jaunty angle. The hammer price? A staggering US$6.2 million (£4.9 million). The widespread incredulity surrounding this exorbitant price has been tinged with humour. The sale has been perceived by many as a kind of jest at the expense of the buyer, Chinese-born crypto entrepreneur Justin Sun. It has even spawned its own meme and hash-tag, #BTW , which stands for “Banana Tape Wall”. Sun took to X (formerly known as Twitter) to say he was “thrilled” with his purchase and would be eating the banana in the coming days. Bananas have a rich comedic history. Given that Comedian is the title of the artwork, we are seemingly invited to conclude that Sun’s purchase itself is an unintentional pratfall – a slip on a banana peel. However, Cattelan claims that Comedian serves as “a sincere commentary on what we value” rather than merely a joke. Exploring Comedian’s place within the realm of conceptual art reveals its implications for our understanding of value, the role of technology – and the evolving relationship between art and finance. Looking for something good? Cut through the noise with a carefully curated selection of the latest releases, live events and exhibitions, straight to your inbox every fortnight, on Fridays. Sign up here . The essence of Comedian lies not in the specific combination of the banana and duct tape, but rather in the accompanying documentation. This documentation provides detailed instructions for replacing the perishable components (the banana and duct tape) that constitute the physical representation of the work. It also includes a certificate of authenticity, which is the essential element. This certificate elevates any arrangement of banana and tape, when executed according to the instructions, from a mere snack into a specific artwork by Maurizio Cattelan. This unique approach challenges conventional notions of art ownership and value, underscoring the significance of the idea embodied in the artwork rather than its physical manifestation. Comedian and the legacy of conceptual art Comedian is part of a lineage of conceptual art that broadens the definition of art and subverts traditional notions of artistic value. It invites comparisons to Marcel Duchamp’s Fountain (1917), a ready-made urinal presented as art, and to Andy Warhol’s Brillo Boxes (1964), which were silk-screened plywood replicas of commercial packaging. However, the most relevant precursor is Michael Craig-Martin’s 1973 conceptual masterpiece, An Oak Tree . It consists of a glass of water placed on a shelf, accompanied by a transcript of a conversation in which the artist explains how he has “changed” the glass of water into an oak tree, without physically altering any object. All these works, including Comedian, draw attention away from the material and aesthetic qualities of objects to focus on the concepts or ideas they embody. As art critic Rosalind Krauss has explained , conceptual art takes the idea, rather than the object, as the locus of artistic practice. In Comedian, the banana is transient and replaceable. Its worth lies in the certificate of authenticity, the artist’s conceptual gesture and the discussion it generates. An intriguing aspect of this piece is that it is not a unique object. Rather, it is part of a limited edition of three. US$6.2 million is a significant amount for a one-off piece. It is even more extraordinary for an item that is part of an edition. The work’s provocative simplicity and its association with the perceived excesses of the art market invite critique and reflection, which seems to be a deliberate point. Ultimately, Comedian is not merely a banana – it is one of three conceptual artworks whose essence is best understood as virtual. This article is part of our State of the Arts series. These articles tackle the challenges of the arts and heritage industry – and celebrate the wins, too. The crypto connection The surge in value of virtual bananas is paralleled by the rising tide of another intangible asset: cryptocurrency. Since the reelection of crypto-enthusiast Donald Trump, the value of a single bitcoin has surged by about a third , nearing US$100,000 (£79,300). Sun’s interest in Comedian is intricately linked to his advocacy for blockchain technology and cryptocurrency, drawing parallels between conceptual art and the digital currency market. Both challenge established value systems, disrupting traditional notions of ownership and authenticity. Cryptocurrencies derive their worth from decentralised networks and cryptographic protocols rather than from physical assets, which resonates with the conceptual art focus on ideas over tangible objects. However, this comparison raises questions about the speculative nature of both markets, suggesting that value may be governed more by hype than by intrinsic worth. This dynamic appears to be one that the artist is intentionally engaging with. In light of this, one might ponder whether it was precisely this commentary that attracted Justin Sun to the work. Comedian challenges perceptions of value ownership, and the very nature of art itself, while reflecting the complexities of contemporary cultural and financial landscapes. The piece has become not only a noteworthy artefact within the art world but also a provocative statement about the intersection of art and capitalism in today’s society. Benedict Carpenter van Barthold does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
In conclusion, the decline of ancient puppetry dramas can be attributed to a combination of factors, including homogenization, aesthetic fatigue, and changing viewer preferences. To remain relevant and capture the interest of viewers, the genre needs to undergo a transformation and reinvention to address these challenges and bring fresh and innovative content to the audience. Only then can the flow of traffic for ancient puppetry dramas be restored and their appeal rejuvenated in the competitive landscape of the entertainment industry.Since its launch in 2016, Spotify Wrapped has become an end-of-year staple that people treat like a holiday tradition. But this year, Spotify Wrapped sucked the joy right out of the beginning of the month with a lackluster data dump that disgruntled several users online. In the past, the feature has gone viral for its creative blend of pop culture references, aesthetically pleasing presentations, and concrete data on how people listen to music. After all, who doesn’t love getting personalized information on their own music tastes? Even if people were embarrassed by their own tastes, the feature has always been a key element of Spotify’s appeal as a streaming platform. This time around, Spotify Wrapped lacked its usual charm. Instead of providing an individualized gift for its users, the whole experience felt more like getting socks for Christmas. Listeners turned to social media to point out why 2024’s specific Spotify Wrapped felt like a huge letdown. First and foremost, the streaming giant left out a key data point from users’ individualized Wrapped data set: top genres. Spotify didn’t share the amount of genres users listened to, as it has in the past. Another fun aspect of Spotify Wrapped that the streaming platform left out was “Sound Town,” which usually pairs listeners with different cities based on their top artists and genres. In previous years, Spotify Wrapped also included a personalized Audio Aura that matched listening habits to specific moods. None of that was included in the 2024 edition, to the dismay of many. People were also critical of the feature’s overall presentation. In past years, the visual aspects of the campaign were nearly as important as the contents, with bright colors and bold graphic designs. This year, the one-dimensional visuals kept some users from wanting to share images of their results on social media. One X user took matters into their own hands and only shared a cropped version of their top artists, writing , “Spotify wrapped graphic design is so hideous this year that I had no choice but to crop.” Editor’s picks The 100 Best TV Episodes of All Time The 250 Greatest Guitarists of All Time The 500 Greatest Albums of All Time The 200 Greatest Singers of All Time A rep for Spotify did not immediately return Rolling Stone ‘s request for comment. A post shared by Spotify (@spotify) Spotify’s official Instagram was flooded with upset users commenting on several posts announcing what the streamer called “the best day of the year.” One user wrote, “Something feels fishy and sloppy with this year’s wrapped... It was very short as well..?” Some commentators even threatened to leave the streaming platform for its competitors. “One hour to give us top genres before I switch to Apple,” wrote a user under Spotify’s post celebrating Global Top Artist Taylor Swift. Some people online blamed 2024’s underwhelming Spotify Wrapped on the recent layoffs at the company. In December 2023 , just days after that year’s Spotify Wrapped launch date, Spotify’s CEO Daniel Ek announced mass layoffs which affected 17 percent of its workforce, up to 1,500 people. One user wrote , “Spotify Wrapped is a bit...underwhelming this year. Less unconventional data viz moments like in previous years (like the city matches, zodiac signs, etc). It was all very obvious. The layoffs really show here.” Others speculated on whether artificial intelligence was used to create this year’s Spotify Wrapped. A user on X wrote , “if the lack of fun facts in Spotify Wrapped this year taught us anything it’s that the world needs less AI and more chronically online data analysts with a sense of humour.” Another user concurred with the AI hypothesis: “Spotify Wrapped is underwhelming and reeks of AI... there seems to be real lack of effort this year from the boring visuals to the missing genres and quirks.”Natixis Advisors LLC reduced its position in Kemper Co. ( NYSE:KMPR – Free Report ) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,697 shares of the insurance provider’s stock after selling 12,907 shares during the period. Natixis Advisors LLC’s holdings in Kemper were worth $3,411,000 as of its most recent SEC filing. Other institutional investors also recently bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of Kemper in the first quarter valued at $36,000. Bayesian Capital Management LP purchased a new position in Kemper during the 1st quarter valued at about $342,000. Khrom Capital Management LLC raised its position in Kemper by 414.0% during the first quarter. Khrom Capital Management LLC now owns 425,262 shares of the insurance provider’s stock worth $26,332,000 after acquiring an additional 342,519 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Kemper by 12.7% in the first quarter. Janus Henderson Group PLC now owns 515,487 shares of the insurance provider’s stock valued at $31,919,000 after purchasing an additional 57,979 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Kemper by 84.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 39,914 shares of the insurance provider’s stock valued at $2,472,000 after purchasing an additional 18,290 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth A number of research firms recently issued reports on KMPR. Piper Sandler upped their target price on Kemper from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. StockNews.com raised Kemper from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Raymond James boosted their target price on shares of Kemper from $70.00 to $75.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. TD Cowen raised their price target on shares of Kemper from $72.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, JMP Securities reiterated a “market outperform” rating and set a $85.00 price target on shares of Kemper in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $79.00. Kemper Stock Performance Kemper stock opened at $71.61 on Friday. The stock has a fifty day moving average price of $63.83 and a 200 day moving average price of $61.72. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.50. Kemper Co. has a 52 week low of $42.32 and a 52 week high of $72.82. The firm has a market capitalization of $4.59 billion, a P/E ratio of 17.05 and a beta of 0.85. Kemper ( NYSE:KMPR – Get Free Report ) last released its earnings results on Wednesday, October 30th. The insurance provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.28. Kemper had a net margin of 5.86% and a return on equity of 12.03%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company earned ($0.44) earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts anticipate that Kemper Co. will post 5.36 earnings per share for the current year. Kemper Dividend Announcement The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.73%. Kemper’s payout ratio is 29.52%. Kemper Company Profile ( Free Report ) Kemper Corporation, a diversified insurance holding company, engages in the provision of insurance products to individuals and businesses in the United States. The company operates through three segments: Specialty Property & Casualty Insurance, Preferred Property & Casualty Insurance, and Life & Health Insurance. Featured Stories Want to see what other hedge funds are holding KMPR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kemper Co. ( NYSE:KMPR – Free Report ). Receive News & Ratings for Kemper Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kemper and related companies with MarketBeat.com's FREE daily email newsletter .