In 2020, the concert economy grew by 33%. These are enviable numbers in themselves, but they become particularly impressive when you consider that the concert economy has grown 8.25 times faster than the US economy as a whole. The COVID-19 pandemic has resulted in the world’s worst economy since the Great Depression. Official unemployment figures have reached 14%. Unable to rely solely on savings and government assistance, millions of Americans turned to work for additional income.
This acceptance of concert work as an income of last resort partly explains the importance of concert work in 2020, but that is not the whole story. The truth is, stage work has been a growing part of the economy for quite some time. COVID-19 encouraged its spread, but it did not start the trend. Over the past few years, the concert economy has grown massively. More than 55 million workers in the United States participate in the odd-job economy, and by 2027, nearly half of the population will have engaged in labor jobs for an additional or main job.
Concert work encompasses a wide variety of industries, but the gig that flourished most under lockdown restrictions was delivery service. Apps like DoorDash and Instacart rely on delivery drivers to fulfill user orders. These drivers set their own schedules based on market conditions and individual needs, making them a great example of workers on stage. Even with the decline in closures across the country, many people still appreciate the services delivery drivers provide them. The delivery services space is expected to reach a total value of $ 200 billion by 2025.
Other examples of gig jobs include home repairs, babysitting, personal training, event photography, and dog grooming. While some jobs require a state license, others are open to anyone who wants to build up the reputation and experience to attract clients. Thus, one of the advantages of working on stage is its relatively low barriers to entry. High school graduates are as likely to be successful as those with a university degree in the odd-job economy.
Beyond being open to everyone, working in a company offers many advantages. Flexible employment based on project completion means that most gig workers work relatively few hours to make ends meet. 58% of concert workers report working less than 30 hours per week, even though many of them earned more than their traditionally employed peers. While the exact income will vary depending on the client and the number of projects accepted over a period of time, many freelancers will say it makes their job safer instead of less. This is the basic principle of diversification at work; losing a client costs some income, but a traditionally employed person who loses their only job causes financial havoc.
There are many reasons workers enjoy performing on stage, but why could a company support it? 4 in 5 US companies want to increase their use of gig workers in the future. The answer may come from what companies learned during the pandemic: The future is uncertain. Rather than hiring workers for years of traditional employment, the odd-job economy allows companies to take their workforce one project at a time. If the company appreciates the performance of a worker on one project, then it can hire him for another. Less commitment equals less risk on the part of a business.
Does it make you want to get involved in the concert economy? The first step is to set up on an online platform. It is on job boards that 70% of freelancers find work. Building your profile means expanding your experience and professional reputation. Don’t specialize in a service right away. Instead, consider the wide range of services available and try whatever you can.
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