Freelancing in the media sector allows individuals to be self-employed and work independently from home or remotely. Freelancers work on brief assignments and projects for different employers and are paid based on the quantity and quality of work completed. Some advantages of freelancing include being your own boss, flexibility, and variety in work, while disadvantages can include isolation, lack of benefits and job security, and irregular income. Freelance contracts outline payment terms, deliverables, and obligations of both parties.