Empowering the Freelance Economy

Advertising agencies boost freelance hiring by 40%

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UK freelancers are in high demand as ad agencies embrace a flexible workforce. M&A between media and tech could also spur more demand for 2024

New data from Worksome, the freelance job platform, has revealed a significant surge in demand for freelancers from advertising agencies across the US, UK and Europe, with a 40% increase in freelance contracts in the first quarter of 2024 compared to the same period last year.

This trend highlights a growing shift towards flexible workforces in the advertising industry, as agencies increasingly recognise the benefits of tapping into specialised skills on demand. Freelancers offer agencies greater agility and cost-efficiency, allowing them to quickly adapt to changing project requirements and economic conditions.

The Worksome data, collected from over 150 advertising agency clients, shows that freelance hiring has grown across all areas of agency work, including creative, strategy, and production. This suggests that agencies are embracing freelance talent across the board, rather than just for niche roles.

For UK freelancers, this surge in demand presents a wealth of opportunities. With agencies actively seeking out freelance talent, now is an ideal time to showcase your skills and experience. Whether you’re a designer, writer, strategist, or producer, there’s a good chance that agencies are looking for someone with your expertise.

However, the increased competition for freelance work means that it’s more important than ever to stand out from the crowd. Building a strong personal brand, showcasing your portfolio effectively, and networking with industry contacts are all essential steps for landing lucrative freelance contracts.

Worksome’s CEO, Morten Petersen, commented on the findings, saying:

The advertising industry is witnessing a strategic transformation as agencies adapt to the current economic climate. Freelancers are playing a crucial role in this shift, providing agencies with the flexibility and specialized skills they need to thrive in today’s fast-paced market.

The report’s findings are good news for UK freelancers, signalling a growing acceptance and appreciation of their value within the advertising industry. As this trend continues, freelancers can expect to see even more opportunities emerge, making it an exciting time to be a part of this dynamic and evolving sector.

M&A activity could call for more freelancer demand

As technology and entertainment continue to intertwine, we could also see the marriage of tech giants and media companies, according to Dr. Saverio Salandra, a Partner in the Corporate and International Team at HCR Law.

He says, “Technology firms have been increasingly interested in media content and its distribution, recognising the potential synergies with their existing platforms. 2024 might see a series of tech-media partnerships, as companies from both sectors seek to leverage each other’s capabilities to create innovative, immersive, and personalised experiences for consumers.”

To keep ahead of the pack, keep updated on M&A deals within the tech and media sectors through business news channels and law firms.

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