Wednesday, April 09, 2003
The cost of war.
Television networks lost $77 million in advertising revenue in the first week of the U.S.-led war on Iraq, research firm CMR said on Tuesday.
The major broadcast networks -- ABC, CBS, NBC and Fox, lost $22.4 million in commercial revenue on March 20, which was the first full day of military action. Cable news channels lost $3.6 million that day, when many networks preempted their regular programming for war coverage, media research firm CMR said.
For the week ended March 25, network television saw $53.6 million in advertising dollars dwindle away while the cable news channels, which do not charge advertisers as much because they have a smaller viewing audience, lost $17.6 million.
Well they did reckon the networks would lose revenue thanks to the war and they were right. I wasn't sympathetic when they first made the announcement and I'm not now either.