U.S. upfront TV ad spending will decline 1.4% in the 2019-2020 season to $20.28 billion, and drop a substantial 27.1% in the 2020-2021 season to $14.78 billion, a $5.5 billion difference on a year-over-year basis, according to eMarketer.

This is a significant change from the research firm’s pre-pandemic estimates, when it expected to see single-digit growth for both seasons at 2.3% and 1.8%, respectively. The revised figures reflect about $1 billion less in spending for the 2019-2020 season and about $7 billion less for the 2020-2021 season, compared to eMarketer’s April 2019 forecasts.