After declining by around 7% in 2020, ad revenues will rise by 6% to $573bn, according
to Magna Research. Rescheduled sports events (see Sport) will loosen advertisers’ purse
strings. But the global ad-take will come up $9bn short of pre-coronavirus days. Asia-
Pacific will grow fastest (by 8%), helped by an expected $800m splashed out on the
Tokyo Olympics. North America, least hurt in 2020 owing to political ad-spending in an
election year, will grow slowest (4%). Still, with $222bn in ads, America will all but
recover ground lost in 2020.

Advertising via traditional media will just about return to positive territory.
Newspapers and magazines will shed yet more ad dollars, hastening the transition to
digital-subscription models, even in developing Asia. Revenues for television and radio
will expand by 2% and 1% respectively, according to Zenith Media. Out-of-home and
cinema ads will surge (by 16% and 65% respectively) following steep dips in 2020, but
fail to reach previous highs.

Ad placements on social media and video content will proliferate. More streaming
companies will be tempted to launch ad-backed free versions to snare viewers, as have
Pluto TV (owned by CBS), Peacock (Comcast) and India’s SonyLIV. User-generated
content on platforms such as Instagram Reels or TikTok will find favour. Video ads will
get even shorter, to attract eyeballs on Instagram Stories or Facebook Thumbstoppers.

Metals and mining

Metals prices were flagging with oversupply even before coronavirus, for steel in
particular. Amid the economic wreckage, they have been hit hard again—far harder
than their agricultural cousins. The silver lining? Having dwindled further in 2020,
metals prices will bounce back faster in 2021. A moderate rise in demand will deplete
stocks and push up the EIU’s base-metals index by 5%, though prices will not attain
their former shine.