Ad Spending Drop Worse Than Expected

The books are closed on the worst advertising year in recent memory, and the numbers for 2001 are not pretty--total advertising spending plummeted 9.8% to $94.3 billion, research firm CMR said.

Among the sectors hardest hit, according to CMR: national newspapers, down 23% to $2.94billion; national spot radio, down 20.5% to $2.17 billion; and spot television, down 18.2% to $14.87 billion. The sole bright spot was cable television, which eked out a 1% increase in 2001.