So you haven't touched industrial magazines. Explains everything.
Pre-internet, the way that you can actually get information in a field is to have a publisher collect advertisements from related companies and send it to you. That's beyond "hate", it's the opposite: you are interested in any offerings but are not sure of who will you go to.
This does not mean they would pay more for advertising.
There were markets - specifically classifieds and listings - where buyers did very much want to pay for ads. But those were very specialised, and it's debatable whether a personal sales listing (dating notice, pet offer, etc) is in any way similar to a corporate ad.
Realistically, absolutely no one was going to pay for a version of Computer Shopper which had zero independent content and was just a giant ad directory.
Just as absolutely no one [1] will pay money to view a movie presentation made entirely of ads. Or watch a TV channel [2]. Or listen to a radio stream. Or view a web site.
[1] It's possible there are a few individuals who would do this, but clearly not enough to support a viable market.
[2] You might think Home Shopping Network, but HSN is free to air not pay to view.
Hulu could have two premium options, one where you pay more for no advertising, and another where you pay more for extra ads. If what you are saying is true, every company is leaving money on the table by ignoring this demographic. I think it's more likely that this demographic doesn't exist in any meaningful way.