This year has proved to be a challenging one for any economic sector, the numbers are not that good, and we face different kinds of losses. But our adaptation skills are impressive, and we have hope for a better future, so 2021 looks promising even when this year was a tough one. Advertising 2021 will depend entirely on 2020’s behavior, but even with all these challenges, the numbers are pretty good, keep reading to find out!
Advertising 2021: what should we expect?
GroupM published last June their «This Year, Next Year: Global Mid-year Forecast Report,» where they tell us all about how advertising is going this year and what we should expect for 2021. According to the group, Advertising in 2021 will grow around 8.9%, even when there is a decline during 2020. But overall, the numbers are quite interesting, proving that advertising is a solid area. Check out the five major points of the report!
1.- Digital Advertising
After a decade of continuous growth, digital advertising is facing a decline this year, which is expected thanks to the coronavirus. By 2021 the growth will resume, however, with lower numbers than the past decade. But this decline and newer growth don’t indicate losses; digital advertising is still an area that will present major revenues around the world this year or next.
2.- Television Advertising
This is the dominant advertising, especially for the largest brands around the world. But after all it happened with the virus and the pandemic, this year is showing a big decline, that will grow 5.9% next year. What is interesting is that streaming services are showing growth this year that will only increase during 2021.
3.- Outdoor Advertising
This has taken a big fall during this year because of the social distancing restrictions. Many outdoor activities such as cinemas, festivals, and concerts have been canceled or postponed until further notice. So the decline is around 25% during this year, with expectations of 14.9% growth for 2021, the growth will continue, but predictions are about that it will never be the same.
4.- Print Media
Newspapers and magazines are the major players in print media, showing a decline of around 25%. Even when it looks bad, it will account for $40 billion in advertising only this year. However, a full recovery can happen only when the economy around the world could be more stable. Print media has a big problem if there is disinvestment in the content; an absence of advertiser support will lead to disengaged consumers and then advertisers. There are exceptions, but this will depend on a strong investment in content and solutions in marketing.
5.- Audio Media
This faces the same challenges as outdoor activities. Many radio stations took their peak listeners in the middle of rush hours. Still, social distancing and quarantine restrictions are messing with the listeners. Even when audio media is often under-appreciated, it will face a decline of 23% during this year with $25 billion. However, next year can show growth, but marketers’ major appeal will be the digital aspect from streaming services, and surprise podcasts can change the game.
Advertising 2021 looks promising with growing numbers and an adaptation to a new normalcy. It will be a year to learn from the challenges faced during 2020, with big hopes for a promising future. Keep in touch with 786 Magazine through our social media!
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