A report reveals growth of independent professionals in the U.S., highlighting earnings and emerging markets for freelancers.
Quiver AI Summary
A new report by Fiverr International Ltd. reveals significant growth in the independent professional workforce across all major U.S. markets, with cities like Las Vegas and Nashville leading in average earnings for freelancers. The report, based on extensive data analysis, shows that from 2019 to 2024, the number of freelancers surged in areas like Orlando and Miami, which also saw substantial revenue increases. The total number of independent professionals in the U.S. is now estimated at 6.9 million, generating $319 billion in revenue. The report categorizes cities into groups based on their freelance economies, highlighting trends such as rapid growth in Sunbelt markets and emerging tech hubs. Overall, freelancing is reshaping the workforce landscape, offering flexibility and financial viability to many.
Potential Positives
- Fiverr's report highlights a significant growth in the freelance workforce, indicating a strong demand for independent professionals, which can enhance Fiverr's business prospects.
- The increase in freelance earnings in major markets, particularly in cities like Las Vegas and Nashville, showcases the financial viability of freelancing, reinforcing Fiverr's value proposition.
- The report's insights into emerging market groups, such as Sunbelt Professional Havens and Rising Tech Hubs, demonstrate potential new opportunities for Fiverr to expand its reach and services.
- With an estimated $319 billion in revenue generated by independent professionals, Fiverr is positioned at the forefront of a lucrative market that contributes to U.S. GDP, highlighting its pivotal role in the freelance economy.
Potential Negatives
- Despite an overall increase in the freelance workforce, certain markets such as San Francisco and San Jose are highlighted as having reversed declines, which may imply underlying weaknesses in more traditional tech hubs, potentially affecting Fiverr's core customer base.
- The report indicates a disparity in average earnings among freelancers, with a significant 60% gap between the highest and lowest earning markets, which may reflect regional economic inequalities that could impact Fiverr's business strategy and market reach.
- The reliance on independent professionals for revenue generation exposes Fiverr to vulnerabilities in economic shifts; any downturn in freelance demand could have a disproportionately negative effect on the company’s growth prospects.
FAQ
What are the key findings of the Freelancer Economic Impact Report?
The report reveals growth in independent professionals across major U.S. markets, with significant earnings in cities like Las Vegas and Nashville.
Which cities saw the highest increase in independent professionals?
Orlando and Miami topped the list, each growing by 32%, followed closely by Nashville and Las Vegas.
How much revenue do independent professionals generate in the U.S.?
Independent professionals in the U.S. generate an estimated $319 billion in revenue, contributing 1.1% of the GDP.
What trends are emerging in independent workforce demographics?
Sunbelt markets and younger populations are driving fast growth, indicating a shift in freelance work opportunities.
How does Fiverr support the independent workforce?
Fiverr connects freelancers with businesses globally, offering tools and resources for successful project completion across various industries.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FVRR Hedge Fund Activity
We have seen 81 institutional investors add shares of $FVRR stock to their portfolio, and 101 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 2,390,528 shares (-69.7%) from their portfolio in Q3 2025, for an estimated $58,352,788
- INVENOMIC CAPITAL MANAGEMENT LP added 622,431 shares (+inf%) to their portfolio in Q3 2025, for an estimated $15,193,540
- ENGINE CAPITAL MANAGEMENT, LP added 598,432 shares (+2366.2%) to their portfolio in Q3 2025, for an estimated $14,607,725
- CITADEL ADVISORS LLC added 588,592 shares (+165.0%) to their portfolio in Q3 2025, for an estimated $14,367,530
- AMERIPRISE FINANCIAL INC added 566,636 shares (+26.7%) to their portfolio in Q3 2025, for an estimated $13,831,584
- GOLDMAN SACHS GROUP INC added 364,353 shares (+134.5%) to their portfolio in Q3 2025, for an estimated $8,893,856
- TWO SIGMA INVESTMENTS, LP removed 330,598 shares (-69.0%) from their portfolio in Q3 2025, for an estimated $8,069,897
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FVRR Analyst Ratings
Wall Street analysts have issued reports on $FVRR in the last several months. We have seen 5 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- BTIG issued a "Buy" rating on 09/19/2025
- Needham issued a "Buy" rating on 09/16/2025
- Oppenheimer issued a "Outperform" rating on 09/16/2025
- JP Morgan issued a "Overweight" rating on 07/31/2025
- Citigroup issued a "Buy" rating on 07/31/2025
To track analyst ratings and price targets for $FVRR, check out Quiver Quantitative's $FVRR forecast page.
$FVRR Price Targets
Multiple analysts have issued price targets for $FVRR recently. We have seen 7 analysts offer price targets for $FVRR in the last 6 months, with a median target of $30.0.
Here are some recent targets:
- Marvin Fong from BTIG set a target price of $31.0 on 09/19/2025
- Bernie McTernan from Needham set a target price of $32.0 on 09/16/2025
- Jason Helfstein from Oppenheimer set a target price of $30.0 on 09/16/2025
- Doug Anmuth from JP Morgan set a target price of $30.0 on 07/31/2025
- Ronald Josey from Citigroup set a target price of $33.0 on 07/31/2025
- Brad Erickson from RBC Capital set a target price of $28.0 on 07/31/2025
- Joshua Chan from UBS set a target price of $25.0 on 07/31/2025
Full Release
NEW YORK, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Economic shifts are remaking where and how Americans work, as the estimated population of independent professionals increased in every one of the United States’ top 30 markets last year, with cities like Las Vegas and Nashville offering freelancers the highest average earnings, according to a new report released by Fiverr International Ltd. (NYSE: FVRR) today.
Analyzing data from millions of tax returns and Non-Employer Statistics compiled by the U.S. Census Bureau, the annual Freelancer Economic Impact Report developed with market research firm Illuminas estimates the size, growth, and earnings of the independent professional workforce in top markets from 2019 through 2024.
The data uncovers significant shifts in where and how America's freelancers are working, with the fastest growing markets for the number of freelancers including Orlando (32%), Miami (32%), Nashville (24%), Las Vegas (22%), San Antonio (20%), and Dallas (20%). Revenues increased the most in Miami (71%) and Orlando (62%), while New York, Los Angeles, and Miami had the highest number of freelancers overall.
Defying their reputations as solely entertainment and tourism hubs where artists, musicians, and performers chase their dreams, freelancers in Las Vegas ($62,083), Nashville ($61,569), and Los Angeles ($61,303) had the highest average incomes, showing that freelancing can help make those dreams financially sustainable. Despite ranking 22nd in total number of freelancers, Nashville outearned much larger markets for creative services revenue, ranking third behind only Los Angeles and New York City.
Reversing declines seen in some tech hubs, such as San Francisco and San Jose, during the pandemic, all 30 markets experienced growth in independent workers in the past year. The surge aligns with other data showing that U.S. businesses have increased freelance hiring by 260% in recent years. The U.S. now has an estimated 6.9 million independent professionals and nearly 4 million freelancers concentrated in the top 30 cities — an annual increase of 4.3%. The report also shows independent professionals in the U.S. are estimated to generate $319 billion in revenue, representing 1.1% of U.S. GDP, and $208 billion in just the top 30 markets.
“Freelancing has become one of the most powerful forces reshaping the American workforce,” said Fiverr’s Head of Community, Michelle Baltrusitis. “People are no longer tied to a single company or city; they’re building flexible, fulfilling careers on their own terms. The future of work is already here, and it’s independent.”
According to Beau Vallis , a Miami-based Fiverr freelancer: “Miami gives you sunshine — freelancing gives you freedom. I went all-in on both, and it changed everything. Tens of thousands of projects later, I’ve helped transform lives worldwide… including my own. I cannot be more thankful for the life and flexibility freelancing has provided.”
The report categorized cities into nine groups based on their freelance economies, growth rates, and demographics. Three patterns emerged:
- Sunbelt Professional Havens (Miami, Orlando, Tampa, Jacksonville, and Phoenix) experienced the fastest growth in the number of independent professionals and revenues over the past 5 years.
- Lone Star Boomtowns (Dallas, Houston, and San Antonio) were the second-fastest-growing market group, based on the number of independent professionals, and the third fastest in revenue. These markets are also young, with higher percentages of their total population falling under the age of 35 compared to other markets, and more diverse.
-
Rising Tech Hubs (Austin, Denver, Atlanta, Charlotte, Raleigh, Richmond, and Salt Lake City) were the third-fastest-growing in independent workers and second-fastest in revenue, and may be the next tech hub for freelancers as the tech economy in general shifts from the large tech centers to smaller cities.
Additional findings from the report include:
- Location-driven earnings gap: There was a 60% difference between the highest average earnings market ($62,083 in Las Vegas) and the lowest ($38,871 in Minneapolis), with independent professionals in the top 30 markets earning $52,002 on average, around $5,748 more than the overall U.S. average.
- 3.5 million professional service freelancers (including those in legal, accounting, marketing, bookkeeping, management consulting, and business support) comprise more than half of independent workers (51%) and nearly half of the revenues (48%).
- 1.8 million technical service freelancers (architecture, computers, data processing, design, engineering, computer/IT, and scientific services) make up 26% of workers and 36% of revenues.
- 1.5 million creative services freelancers (artists, video producers, writers, performers, and sound professionals) represent 22% of independent workers nationally and 16% of revenues.
See the full report here , along with an interactive map where you can check out the data by region.
Methodology
The research was conducted by Illuminas in partnership with Fiverr, analyzing annual U.S. Census Bureau Nonemployer Statistics (NES) datasets from 2013–2023 to identify trends in the skilled independent workforce — defined as creative, technical, and professional independent workers across 26 NAICS industry codes. This data series, compiled by the Census Bureau, is based on tax filings from approximately 30 million businesses across 450 NAICS industries that have no paid employees or payroll, are subject to federal income taxes, and have receipts of $1,000 or more. The report includes 2024 estimates for the total number and revenues of skilled independent workers, calculated by applying a balancing weight—based on the most recent market-level and U.S. GDP data—to 2021–2023 growth rates and projecting them from the latest available 2023 figures.
About Fiverr
Fiverr’s mission is to transform the way the world creates and works together. We’re shaping the future of work with the world’s leading open platform, seamlessly connecting top talent and cutting-edge technology with businesses around the globe. From expert freelancers in over 750 skilled categories to best-in-class GenAI models and agents, Fiverr provides the most advanced and comprehensive talent and tools for digital services—helping businesses complete mission-critical projects quickly and cost-effectively.
From small businesses to Fortune 500 companies, millions trust Fiverr for projects in software and AI development, digital marketing, finance, business consulting, video animation, music, architecture, and more.
Learn how to future-proof your business with exceptional talent and cutting-edge tools at fiverr.com . Follow us on LinkedIn , Instagram , TikTok, X , and Facebook .
Press Contacts
Jenny Chang
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/84814f32-560f-4c46-8b0a-91077febc5d1