Hurricane Katrina will cause media spending to drop by $1.13 bln

Hurricane Katrina will cause total media spending to fall by $1.13 bln from August 2005 to September 2006, according to PQ Media. The loss is estimated to account for 2.2% of media spending in the 20 affected designated market areas (DMAs) in the 12-month period. Of these 20 DMAs, New Orleans accounts for 64.8% of the total loss, or $732.5 mln, a 14.3% decline in the city’s projected annual media spending. From a broader industry perspective, the total represents a decline of only 0.2% of the $887.37 bln in media spending expected in the 2006.