The first issue of Art Monthly Australia, (AMA) was published in June 1987; its founding editor was Peter Townsend, then the distinguished (and also founding) editor of Art Monthly (UK), that country's leading magazine of contemporary visual art. Townsend modelled the Australian magazine on its namesake and it quickly became a lively and critical forum for debate on contemporary Australian art. Townsend edited both magazines for six years, travelling between London and Australia, before returning permanently to England in 1993, when he was succeeded as editor of AMA by Peter Timms, a well-known writer and curator. Timms edited the magazine for five years - his first issue was number 58 (April 1993) and his last was number 107 (March 1998). Philippa Kelly, who had worked as Art Monthly Australia,'s managing editor for the previous eight years and had broad experience in the visual arts, was then appointed editor; her last issue was April 2002. Deborah Clark was the 4th editor, and saw Art Monthly Australia publish its 200th issue in June 2007, Deborah's last issue was October 2007 - read her final editorial here. The 5th Editor, Maurice O'Riordan, was appointed in January 2008.

Art Monthly Australia is an incorporated public company, and exists as a non-profit organisation. The magazine is produced ten times a year, from March to December. Art Monthly Australia's income is derived from sales and subscriptions, advertising, philanthropic, corporate sponsorship and donations, and government funding. Over the Twenty-one year-life of the magazine it has been vigorously supported by the Australia Council, initially with annual funding and now with triennial funding. The magazine has also sought and received some funding from state and territory arts funding bodies.

The Australian National University (ANU) School of Art, Canberra, has hosted Art Monthly Australia since 1992. The magazine was originally published in Sydney by Sam Ure Smith, but within two years Peter Townsend moved it to Canberra (in 1989) where it was self-published. The new location enabled Art Monthly Australia to position itself as a truly national magazine. David Williams, Director of the School of Art, is the Chair of the AMA Board, whose other members include people from around Australia with strong professional expertise in different spheres of the visual arts and publishing - academic, commercial, museological, and commercial. The magazine has a strong relationship with the ANU academic community, including collaborations and exchanges on academic committees, publishing ventures and in public lectures.

Art Monthly Australia currently employs three staff: the Editor, Maurice O'Riordan; the Designer and Advertising Manager, Kathreen Ricketson; and the Office Manager, Stephanie Jones. The magazine pays its contributing writers and also pays fees to artists, agencies and institutions.

In 2007 Art Monthly Australia published its 200th issue and is in a mature phase of its development with 20 years of publishing and is positioned very strongly in the market for Australian visual art. AMA has always been an important magazine in that market, now it is vital. Under Peter Townsend AMA carved a niche for itself as a key player in Australian visual arts, and in the subsequent years it remained essential reading on the Australian scene. In the last few years Art Monthly Australia has, to an extent, been re-invented, and currently commands a central place in art journal publishing in this country, where it has a strong reputation as an intelligent, well informed and accessible visual art magazine with truly national coverage. Its monthly currency is unique in Australia. In the last few years, while other visual art magazines have come and gone, Art Monthly Australia has gone from strength to strength in its production - the breadth and quality of its writing, its crisp and attractive design - and in its reception. The magazine's striking covers, showcasing some of the best images current in the Australian art world, are widely admired and anticipated.