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eMarketer has reduced its estimate for TV advertising spending in the U.S. this year by nearly $1 billion due to an uptick in cord-cutting, or people ditching their expensive cable bundles for cheaper streaming options.

Why it matters: The trend reflects consumers switching from bundled cable packages to more affordable, niche bundled services that can be accessed on TV box tops or on mobile. YouTube TV and Hulu TV launched within the past year, joining the likes of Dish's SlingTV, Sony's Playstation Vue and AT&T's DirectTV Now, all at a roughly $40 monthly price point — a bargain considering the average American pays $92 monthly for cable.

Expand chart
Data: eMarketer; Notes: Pay TV viewers have access to traditional TV service, excluding streaming. Non-pay viewers either quit their service or never had access. Chart: Andrew Witherspoon / Axios

The group predicts that by 2021, the ratio of Pay TV viewers to non-Pay TV viewers will drop from 4:1 to nearly 2:1.

It also expects TV advertising spending to increase only by .2% this year, around half of its previous annual growth rates in non-election, non-Olympics years. As a result, it estimates that TV's share of total media ad spending in the US will drop from 36.6% to 34.9%, and is expected to fall below 30% by 2021, as mobile advertising becomes the dominant advertising medium in the U.S.

Go deeper

Afghanistan's president coming to Washington on Friday

Ashraf Ghani, left, president of Afghanistan, and Abdullah Abdullah, chairman of the High Council for National Reconciliation. Photo: Sean Gallup/Getty Images

As the U.S. troop withdrawal accelerates, President Biden will welcome Afghan President Ashraf Ghani and Abdullah Abdullah, chairman of Afghanistan’s High Council for National Reconciliation, at the White House on Friday.

Our thought bubble: Axios politics editor Glen Johnson, who traveled to Afghanistan while working for Secretary of State John Kerry, said inviting both Ghani and Abdullah to Washington shows the administration’s respect for the delicate balance of power in the country.

Educators face fines, harassment over critical race theory

People talk before the start of a rally against critical race theory being taught in schools at the Loudoun County Government center in Leesburg, Va. Photo: Andrew Caballero-Reynolds/AFP via Getty Images

Elementary school teachers, administrators and college professors are facing fines, physical threats, and fear of firing because of an organized push from the right to remove classroom discussions of systemic racism.

Why it matters: Moves to ban critical race theory are raising free speech concerns amid an absence of consistent parameters about what teachings are in or out of bounds.

Updated 9 hours ago - Politics & Policy

1 dead after pickup truck hits Pride spectators in Florida

Police investigate the scene where a pickup truck drove into a crowd of people at a Pride parade in Wilton Manors, Florida, on Saturday. Photo: Jason Koerner/Getty Images

A driver in a pickup truck hit spectators at a Pride festival in Wilton Manors, Florida, killing a man and leaving another person hospitalized Saturday, authorities said.

Details: Fort Lauderdale Mayor Dean Trantalis told reporters police had "apprehended the driver" and that the vehicle missed a parade car carrying Rep. Debbie Wasserman Schultz (D-Fla.) "by inches."