Too many new media companies are chasing too few advertising dollars, one of the advertising industry’s most senior executives has warned, amid fresh questions about the fast-rising valuations of prominent online groups. At a conference in Monaco, Maurice Lévy, chairman and chief executive of Publicis marketing group, likened the boom in businesses whose revenue models depend on continued growth of online advertising to the dotcom boom and bust a decade ago: “Far too many people are building plans based on advertising and they may well be disappointed because there is not enough money for everyone,” he said.
