New York ad tracker Competitive Media Reporting estimates that the six broadcast networks lost $320 million in advertising that was bumped for the first week's wall-to- wall coverage of the terrorist attack on New York and Washington.
Last Tuesday alone, CMR said, the networks lost more than $46 million. In addition, local stations dropped ads valued at almost $28 million last Tuesday, when the attack occurred, CMR said. Further daily breakouts are still being computed.
The company also lowered its estimated advertising total for the broadcast industry for this year in the wake of last week's attack. CMR had projected a 2%-to-4%-drop in ad sales for the year, but now believes the drop will be in the 5% to 8% range. - Steve McClellan