A telecommunications system and method provides a time slicing capability whereby alternate services, such as advertising, can be provided to a party while being kept on hold. Thus, charges associated with portions of the call during which alternate services are provided can be billed to other parties, such as advertisers, and the cost for the call to the caller or the called party can be reduced. The connection between the caller and the called party is maintained during the time that alternate services are being provided so that when either the caller or the called party is available to accept or resume a call, the alternate services are terminated and the caller and called party are reconnected.