US TV Networks Lost $313m In Week Of Attacks
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.
According to new data released by CMR, network advertising took the biggest hit, losing $188.4 million for the week – 49% of the weekly revenue. Spot (or local) television in the US’ 75 largest markets lost $93.2 million for the week – about 30% of the weekly advertising revenue. Cable TV was the least effected of the three, losing $31.6 million, or 16%.
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 – 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 | ||||
