I just want to re-iterate the point ColorofChange.org made yesterday in its press release regarding the amount of money Glenn Beck is losing in the wake of the sweeping boycott. A Television program simply cannot lose 60 advertisers in the course of a few weeks and not have its bottom line affected. That's just not possible in today's television industry. So please, let's discard the Fox News spin.

As noted a couple weeks ago [emphasis added]:

If the boycott continues to gain momentum, Fox News won't be able to avoid writing down losses. Yes, the cabler claims it hasn't lost any money yet because nervous advertisers simply want off Glenn Beck, not off Fox News (i.e. advertisers are still spending money with the network). But the truth is, since Beck called Obama a racist, Beck's advertising base has been cut by 50 willing advertisers, and Fox News' need to find advertisers for the hour-long weekday show has not changed. And I'm guessing it's not having much luck drumming up new Glenn Beck business in this environment.

Honestly, if advertisers continue to abandon Glenn Beck, pretty soon the show's going to be forced to run more than the occasional free public-service announcement. Either that, or the advertisers willing to stick around are going to get some great deals or maybe even some free spots in order to make sure Fox News can fill the inventory.

It's the old supply and demand: Fox News has the same size supply--the same size ad inventory--for Glenn Beck that it did one month ago. But suddenly it's got 60 fewer adertisers willing to pay for the show. And unless Fox News has been able to keep secret all the new advertisers it's bringing in, guess what? Glenn Beck isn't generating the same revenue it was a month ago. It has lost revenue.

Period.

Here's the graph Gawker posted to showcase Glenn Beck's recent ad revenue losses: