Speaking at the Monaco Media Forum, Levy said there is not enough online adspend to support the fast-expanding new-media market. He added: "Far too many people are building plans based on advertising, and they may well be disappointed because there is not enough money for everyone. It's exactly the same situation as we saw at the end of the 90s, when everyone thought that because he had a website, he'd get the valuation. Now everyone building a Web 2.0 operation believes he will receive the advertising."
Maurice Levy, the Publicis Groupe chairman and chief executive, has warned the advertising industry could face a repeat of the 2000 dotcom crash.