John Heins, president of Gruner & Jahr, said he did not expect to get 10% of the company's annual revenues at any time in the next ten years. Cathleen Black, president of Hearst Magazines, also said the Net was years away from becoming a major ad vehicle and warned, "If we don't figure out a revenue stream for new media, it is not going to be a business."
Roger Servison, an executive with Fidelity Investments, said he expected to see 10% of his transactions over the Internet by the year 2000 but did not expect to spend 10% of his ad budget there. "I don't see how advertising is going to drive the Internet in the era of personal agents" which could effectively screen out ads, he said. The one advocate of Internet advertising on the panel was Wenda Harris Millard, exec VP-marketing and programming of DoubleClick, who insisted, "Advertising will absolutely drive the engine...Somebody is going to make money on this, so it might as well be you."
Copyright October 1996, Crain Communications Inc.