The way adverts are conceived, managed and filmed has been totally changed by Covid. However, the need to overhaul established practices has also helped agencies rediscover their creative spark and build more robust business models.
CGI animation has replaced actors where filming is difficult, while technology is helping production crews shoot scripts remotely or in specially sealed “bubbles” to protect against the spread of the virus.
After a significant mid-year dip in revenues, many agencies ended the year in reasonable financial shape. Savings on travel and freelance costs are likely to carry through to 2021, helping to maintain improved margins.
The priority for many agency owners now is to create some intellectual property around their processes to enhance the value of their businesses.