Is it not right that 2019 was the highest spend ever for TV advertising? And a 5% drop would be less than the drop in broader TV production, via coronavirus?

Is it not right that 2019 was the highest spend ever for TV advertising? And a 5% drop would be less than the drop in broader TV production, via coronavirus? Major events that are associated with large advertising budgets haven't happened: the Olympics didn't happen. The Eurovision Song Contest didn't happen.