Total measured media spending was down 9.7% to $98.21 billion in 2001, from $108.81 billion in 2000. Most industry forecasts issued in December projected drops of 4% to 6% this year.
Newspapers take beating
Hardest hit were national newspapers, which dropped 23% to $2.95 billion, followed by national spot radio, down 20.4% to $2.17 billion.
The only media to avoid a slump were cable TV, which rose 1% to $10.42 billion, and syndicated TV, which was flat at 0.1% growth to $3.19 billion.
Magazines were down 7.6%, newspapers dropped 7%, network TV was down 8.1%, network radio was down 12.5% and spot TV dropped 18.2%. Outdoor remained relatively flat, down 0.8% to 2.46 billion.
Monthly declines moderated by the end of the year, after a sharp spike in September, when total spending dropped 21.9% as a result of ad-free coverage following the Sept. 11 terror attacks. The declines tapered off to 16.3% in October, 12% in November and 9.1% in December.