US network, spot and cable television lost a combined $313.2 million in advertising revenue for the broadcast week of 9-15 September, as many networks cut their advertising in favour of continuous coverage of the events following the terrorist attacks of 11 September.
On 11 September alone, the three television media lost a combined $84.6 million of advertising, says CMR.
“Spending on all television advertising was already showing declines of 2-4% for this year. Now, we’re looking at revenues that could be down in the range of 6-8% for 2001,” said David Peeler, president and CEO of CMR.
Estimated Daily Revenue Losses 9/11/01 ÂÂâ 9/15/01 | ||||
Network | Spot | Cable | Total | |
Tuesday | $45,901,120 | $27,928,608 | $10,781,661 | $84,611,389 |
Wednesday | $41,908,738 | $25,385,106 | $5,637,290 | $72,931,134 |
Thursday | $38,831,727 | $19,476,814 | $4,588,875 | $62,897,416 |
Friday | $35,907,006 | $18,745,503 | $5,707,185 | $60,359,694 |
Saturday | $25,847,054 | $1,654,657 | $4,931,419 | $32,433,130 |
Total | $188,395,645 | $93,190,688 | $31,646,431 | $313,232,763 |
Source: CMR, 01/10/01 |