Will the victoria's secret fashion show be back this year?

Doubtful.  Victoria's Secret sold out a few months ago, indicating they are in trouble, plus the pandemic.

really doubtful as the store is in deep financial (L Brands its parent) trouble and closing at least half its store. The show was expensive and didnt help them sell.

Meh with the backlash it receives on top of this pandemic, it may be cancelled again. One day for good

Probably not. The last few shows had more men watching than women. The show was doing nothing to increase sales which was the whole purpose originally. Research found that very few actual customers -real women who spend money in the store -watched the show nor did any of the items in the show inspire women to come in to buy what they saw. As the outfits became more and more expensive and unwearable it became more of an a** and ti**y show to entertain men than a fashion event and inspiration for women to shop.