While some language service providers (LSPs) have doubled down on their core business via M&A, Welocalize has diversified into the digital marketing space — first, by acquiring SEO marketing agency Adapt Worldwide in 2016 and, recently, digital media buyer Search Star. Such a diversification by an LSP into a non-core business made sense to a majority of Slator readers (65.7%), according to a June 14, 2019 poll.
Optimistic to Middling
The Slator Language Industry Job Index (LIJI) fell to 102.38 in June 2019 from 103.41 in May 2019. However, an increase in the number of job postings from Slator LSPI companies kept the LIJI above the baseline from July 2018 (100). The LIJI measures the expansion or contraction of employment and hiring activity across the industry.
Nearly 38% of respondents to the June 7, 2019 reader’s poll remain upbeat about the job market for language industry professionals. Meanwhile, 13.1% of respondents feel it is currently difficult to land a job and more than a third think the job market has been unremarkable in their country.
LinkedIn for the Buzz
Slator readers resoundingly chose LinkedIn as their go-to resource for industry buzz. No surprise given the over-600,000 profiles under the Translation and Localization category. Most large LSPs are active on LinkedIn, using it as both marketing and recruiting tool.
Respondents to a May 31, 2019 poll voted Twitter and Facebook as the second and third most popular hangouts. And, in an industry driven by words, Instagram hobbled into last place.
Interpretation Market Looks Up
Swiss-based Interprefy was in fund-raising mode once more. The remote interpretation technology startup raised another substantial round in early 2019, which valued the company at a cool USD 21m. The startup seems to have found traction: revenues for the full-year 2018 amounted to CHF 1.24m (USD 1.3m).
On May 24, 2019, Slator asked its newsletter subscribers what their outlook was for the interpretation market over the next three years. Overall, readers believe the market to be headed upward. About half felt either “positive” or “very positive,” while “negative” (15.4%) and “somewhat negative” (26.9%) votes totalled 42.3%.