When you’re not creating music, you’re also a freelance video artist, according to a new study
article A new study from KPMG, the global accounting firm, has identified a “growing gap” between the salaries of freelance and established video producers and studios.
“The gap between the growth of video production and the rate at which people are earning a salary for their work has been widening for years,” said Shubhra Singh, senior vice president at KPMB.
“The data shows that even if you are making video, you are not earning as much as a professional.”
“In other words, the gap between you and your clients is widening,” Singh added.KPMG’s study, which looked at video production pay and earnings in more than 150 countries, found that in 2012, video production salaries in the US were $6,737, more than twice the average rate in Europe.
The UK, meanwhile, was the only OECD country to see a decrease in its video production earnings, which dropped 7.9% from 2011.
Singh said that the growing gap between freelancers and their clients was due to the lack of professionalisation, a lack of training, and a lack “of a clear pipeline” to deliver video.
The report noted that video professionals needed to have experience in film, television, and theatre, while freelance artists needed to be experienced in digital, animation, and game development.
In the US, the report found that only 10% of the video production industry was currently professionalised, compared to 85% in Europe and 89% in Australia.
“This is not only an issue for video producers, but it is also a problem for freelancers, too,” Singh said.
“Video is not just about making a video for people.
It’s about creating a unique video experience, one that is more than a marketing tool.
We need a better pipeline to deliver content that people want.”
While the video industry is experiencing a boom, it is not the only sector struggling to make a profit.
According to KPML’s report, the industry saw an 8.2% increase in revenue in 2013, and that is expected to continue into the new year.