Cable-television outlets lost almost $32 million in advertising during the
days immediately following the Sept. 11 terrorist attacks.
CMR estimated that cable television lost $31.6 million from Sept. 11 through
15, as a number of networks -- particularly the all-news channels -- cut
commercials in favor of continuous coverage.
The Taylor Nelson Sofres company projected that broadcast television lost
$188.4 million over that span, while spot, or local, television outlets in the
nation's 75 largest markets sustained a $93.2 million drop.
All told, CMR estimated that TV lost $313.2 million in advertising revenues
during the days in question.
According to CMR, cable lost 16 percent of its weekly revenue base in the
period, while the broadcasters took the biggest hit -- 49 percent of their
weekly take. Spot missed 30 percent of its weekly ad revenue.
CMR research indicated that cable networks lost almost $10.8 million Sept.
11, $5.6 million the next day and $4.6 million Sept. 13. The totals jumped to
$5.7 million Sept. 14 and $4.9 million Sept. 15.
'We all commend the broadcast networks' decision to forego ad revenue in
favor of keeping our nation informed around the clock about the tragic events of
Sept. 11,' CMR president and CEO David Peeler said in a prepared statement.
'Unfortunately, such across-the-board action has resulted in the acceleration
of a gloomier outlook for advertising's largest medium,' he added. 'Spending on
all television advertising was already showing declines of 2 percent to 4
percent for this year. Now we're looking at revenues that could be down in the 6
percent to 8 percent range.'