CTV Advertising: Who's Winning Here?

When Connected TV (CTV) first took off, it offered what seemed like the perfect mix for advertisers - access to premium content, engaged viewers, and the ability to target with precision. But now that media buyers have had time to dig in, a tricky question is starting to surface:

 Is the system failing advertisers, or is it doing exactly what it was built to do?

Spoiler alert: It's working exactly as designed, just not necessarily in your favor.

The Complexity Trap

The CTV ecosystem has become a tangled web of platforms, curated deals, supply paths, and targeting overlays. Advertisers are told they're reaching high-value audiences through premium placements, but often have little clarity on what they're buying, who's taking a cut, or whether the results are real.

But here's the truth: this isn't a system that's broken by accident.

In many ways, it's doing exactly what it was built to do: generate profit through complexity. Complexity isn't a bug. It's a feature. And it creates margin at every layer of the ad tech chain.

Who Benefits From the Current CTV Ecosystem?

While advertisers are struggling to validate ROI and push for transparency, several players in the ecosystem are thriving:

• SSPs and DSPs profit from nontransparent auction dynamics and overlapping inventory. The more convoluted the path, the easier it is to justify platform fees and take rates.
• Curators and resellers repackage basic inventory as "premium" or "brand-safe" and add layers of markup, often without adding meaningful value.
• Publishers sometimes route their inventory through multiple pipes, creating duplicate bid opportunities that artificially inflate demand (and prices).
• Agencies benefit from managing this complexity. Many:
  • Add margins on media, data, or tech layers.
  • Maintain control over reporting and attribution modeling.
  • Justify fees by positioning themselves as the only ones who can "navigate the chaos."

Advertisers? Often left with limited transparency, inconsistent measurement, and rising CPMs that don't always translate into better performance. 

Is This Working… For You?

Advertisers need to ask themselves:

• What's your biggest frustration in buying CTV today?
• Are you getting what you paid for or just paying more to feel safe?
• Do you understand where your media dollars are going?

If the answer is murky, it's a sign the system is working for everyone but you.

How to Take Back Control

The good news is, advertisers don't have to settle for the way things are. You can take control of your CTV strategy and your results.

1. Focus on Identity-Based Buying

• Target actual people, not just devices. Deterministic identity gives you a clearer picture of who you're reaching, helps cut out waste, and allows for cross-platform measurement.
• Ask for real transparency.

2. Don't be afraid to push for answers. Ask your partners:

• Where is my ad running?
• How many layers, and markups, are between me and the publisher?

3. Get a breakdown of inventory sources and CPMs?

• Work direct or choose curators wisely.
• Working directly with publishers or trusted partners can give you scale and efficiency, but only if they're adding real value, not just markups.

4. Own Your Measurement

• Don't rely on platforms to grade their own homework. Build or partner for independent measurement tied to your business outcomes, not just impressions served.

5. Streamline Your Stack

• Consolidate where possible. The more platforms and intermediaries involved, the more leakage, cost, and confusion. Choose partners that combine identity, activation, and measurement under one roof.

The current CTV ecosystem isn't broken, it's just not designed to serve the advertiser first. Until incentives shift toward transparency, outcomes, and accountability, it's up to advertisers to rethink the way they buy, measure, and partner.

Because if the system is working precisely as intended, the only way to win is to change the way you play.

Ready to See How CTV Should Work?

If you're tired of inflated CPMs, vague reports, and unclear outcomes, you're not alone. At Semcasting, we help advertisers cut through the noise with transparent, identity-based CTV targeting and measurement that actually works.

Visit our website to learn how we’re helping brands take back control of their media spend, without the middleman markup.

Or better yet, schedule a quick strategy call with our team. Let’s make CTV work for you.