July 28, 2003 Said Jonas Bonnier, CEO of the Stockholm-based Bonnier Magazine Group, at the 34th FIPP Magazine Congress: "Our biggest single expenditure item is marketing costs. By far the biggest contributor to these is direct advertising. What if instead of producing, printing distributing all this advertising, we could attract new customers via the internet? Say 50% of all new accounts?" For a written version of his speech and his vision to other magazine publishers who, like himself, have poured a lot of money into unprofitable online operations, click here.