No.

In the 20th Century, the word advertorial was coined in the United States by blending “advertisement” and “editorial” to describe newspaper ads made to look like editorial content. [2]

In the previous century, advertisers in the US paid to place reading notices in newspapers. These notices looked like regular articles about products or companies, but they were written by the companies themselves.

The price for this kind of advertising was at least twice the rate which was being asked for traditional advertising clearly set apart from editorial content.

In 1909, retail store marketer Albert Edgar wrote that they were worth the premium precisely because “the public reads them as matters of news and not as items of advertising”. [3]