AT&T Corp. last week bought British Internet provider Planet Internet U.K. and has rebranded it as an AT&T Internet service provider. Its acquisition of Planet Internet positions the new provider as the springboard for the U.K. launch of AT&T's WorldNet service, expected some time in early 1997.
Local Web ad revenues will top $500 million by 2000, according to a new report from Hambrecht & Quist. The report compares the growth of spot cable advertising to local Web advertising, noting that spot revenue accounted for just $8 million in 1980, or 14% of total cable ad revenue, and jumped to $1.4 billion last year, or 27% of the total. Local Web advertising could follow a similar pattern, Hambrecht predicts.
Web zine Feed (http://www.
feed.com) will expand its reach with a relationship with The New York Times Electronic Media Co. The Times will offer a new Feed area on its @Times site on America Online and will open a forum hosted by Feed's editors. The relationship is strictly a collaboration, said Feed editor Stephanie Syman, and the Times has not made an investment in the zine.
Cybergold laid off nine employees, including three ad sales execs. The service, which promised to pay people to look at ads on the Web, had signed more than 100 trial advertisers. A similar service, Goldmail, pulled back its launch plans this fall after failing to sign up enough advertisers.
GTE mainStreet has begun rolling out its interactive TV offerings to residents in Clearwater, Fla. Created by GTEamericast, the interactive service features nine areas of interactive entertainment and information including personal finance, home shopping and news.