Analysts expect Google and Facebook will experience ad revenue declines in travel and other industries most affected by global efforts to slow the spread of coronavirus. On the ground, marketers and media buyers have been re-evaluating their near-term advertising strategies.

Loop Capital Markets analyst Rob Sanderson expects Google will see a 15% year-over-year decline in travel ad revenue in the first quarter and a 20% drop in the second quarter due to the coronavirus outbreak.

Last week, Needham analysts Laura Martin and Dan Medina said there is evidence of lower spending in travel, retail, consumer packaged goods and entertainment, which together, they estimate, represent 30% to 45% of Facebook’s total revenue.