Freepik changes its brand: it is now Magnific and will try to lead the ‘No-Collar’ economy

Freepik has announced a brand identity change by which it will be called Magnificentat a stage in which he will try to lead the ‘blue collar’ economywhich positions artificial intelligence (AI) as the driver of the next great global economic change.

The Malaga company has opted for a change of image to reaffirm its role as the “world’s most comprehensive creative AI platform”with the transition from fragmented tools to an integrated creative infrastructure, as indicated in a press release.

This new strategy encompasses a series of changes to the platform, which will group the generation of images, video, upscaling, audio and collaboration in a single space production: Magnific.

In this way, Magnific integrates best image and video models, AI scaling technology leader in the sector, collaborative workspace, exclusive 3D tools and virtual scenarios, and a library of more than 250 million assets creatives.

“The problem was never the product. People saw fragments: Freepik as an image bank, Magnific as a scaler. This is the first time that the complete system is visible as what it has been in recent years: a single platform,” explained the company’s executive director, Joaquín Cuenca.

‘NON-COLLAR’ ECONOMY

“The Industrial Revolution created ‘blue collar’ jobs and the Digital Revolution created ‘white collar’ jobs,” said Cuenca. “Creatives are about to become more powerful than anyone expected. That’s the ‘no-collar’ economy. That of people who don’t wear shirt collars. And it’s already underway,” added the executive director.

Specifically, this new labor group refers to those creative roles that use artificial intelligence in their jobs. Contrary to the belief that AI destroys jobs, Magnific argues that The AI ​​revolution is presented as an opportunity for the creative industrynot as a threat.

In this context, the company will try to focus on this new stage in the ‘No-Collar’ economy, which places European AI as the engine of the next great global economic change.

GROWTH AND CONSOLIDATION

Sixteen years after its founding, Magnific has established itself in the AI ​​sector to the point of have more than a million paying subscribers on its platformy exceed 200 million dollars (170.7 million euros) of annual recurring revenue.

Specifically, the plan ‘Business’ for smaller teams, it has exceeded the 2,000 subscriptions since its launch in Januaryand is experiencing a growth of 150 teams per week, according to company data.

Along these lines, the company has indicated that the 72 percent of new creators are beginnerswhich presents a structural change in which high-quality content is easier to produce and have a lower cost.

However, Magnific has also been present in campaigns by brands such as BBC, DeliveryHero, Puma, Guess, Alain Afflelou and Carl’s Jr, which have opted for the AI ​​tools offered by the company.