This way of thinking naturally carries over to the Internet, even though the Net and traditional media are as different as night and day. High ad rates in traditional media are usually based on a scarcity of places to put ads. Most cities have only one daily newspaper, a few TV stations, and only one or two radio stations with a format that reaches your kind of customers.
Fewer media means higher rates.
Since the media ownership rules changed in 1996 and large companies were able to buy up half the media in every city of their choice, rates have gone even higher. The Net is just the opposite. No matter how hard you try, you can't have the game to yourself. The traditional media ad cost model based on scarcity doesn't work. A new model may be developing.