Key takeaways
- Connected TV advertising puts full-screen, non-skippable video in front of streaming audiences with the targeting precision of digital. Streaming has passed linear TV in viewing time, and the channel is still under-used by DTC brands.
- In June 2026, Walmart agreed to buy the self-serve CTV platform Vibe.co for a reported $1.2 billion. The price tag confirms the opportunity. It also raises a question every DTC brand should ask: whose identity graph is your targeting actually built on?
- The CTV brands that win on ROAS are the ones that bring their own customer data, their own audience segments, and their own measurement, instead of renting all three from a platform that may answer to a retailer.
- This playbook walks through the four phases of a CTV program: plan, target, measure, optimize. The targeting and measurement phases are where Untitled’s identity graph and ID Tag turn streaming from a brand-awareness gamble into a measurable acquisition channel.
For most of its history, TV advertising was a channel DTC brands watched from the outside. It cost too much, took too long to produce, and could not be measured against the same return-on-ad-spend math that governs every other line in a performance budget.
Connected TV changed the economics. Now the question is not whether streaming TV belongs in a direct-to-consumer media plan. It is how to run it so media spending is accountable.
This guide answers that. It starts with the fundamentals for anyone new to the CTV channel, then moves into a four-phase playbook you can run against.
Along the way, it shows where Untitled fits, because the parts of CTV that are hardest to get right (precise targeting and person-level measurement) are exactly the parts an identity graph solves.
The signal in the noise: Walmart just paid $1.2 billion for CTV
In June 2026, Walmart announced it would acquire Vibe.co, a self-serve connected TV ad platform built for small and mid-sized businesses, in a deal reported at $1.2 billion in cash.
It is Walmart’s largest move in the advertising space since it bought the smart-TV maker Vizio for $2.3 billion in 2024.
Read that as a market signal first: a retailer with one of the largest first-party data sets in the country looked at streaming TV and decided self-serve CTV for smaller brands was worth a ten-figure check.
The supporting data backs the bet. The share of small advertisers investing in CTV climbed from 60 percent in 2024 to 85 percent in 2026, and roughly 70 percent of CTV advertisers expect to increase their spend on the channel this year. If you sell direct to consumers and you are not running streaming TV yet, the gap between you and your competitors is closing whether you act or not.
Now read it as a caution: the reason the Vibe deal matters to the ad-tech world is that it joins Walmart’s deterministic purchase data to Vibe’s cross-device identity graph. That is a powerful combination for Walmart.
It is a more complicated one for an independent DTC brand that was using Vibe as a neutral, self-serve buying tool. When a platform’s identity layer becomes an input to a retailer’s closed advertising loop, the roadmap tends to follow the parent company’s priorities, not yours.
Industry analysts reacted to the deal by noting the question every marketer now has to ask is no longer, “should I invest in CTV,” but how to keep clear measurement and access to your own data as these platforms consolidate.
The takeaway is not "avoid these platforms." It is that the durable advantage in CTV is not the buying interface, which is increasingly commoditized and increasingly owned by retailers and media giants. The durable advantage is owning the identity and measurement layer underneath the buy: your customer data, your audience segments, and person-level attribution that belongs to you no matter which platform you activate on. That is the part no acquisition can take away from you, and it is the part this playbook is built around.
Different households watching the same show can be served different ads, decided at the impression level.
CTV advertising terms and overview
Before we dive into the playbook for running CTV advertising for direct-to-consumer brands, let’s quickly define a few industry terms. You can skip this section by clicking here.
CTV vs. OTT vs. linear TV
These three terms get used loosely, so it helps to separate them.
- Linear TV is traditional broadcast, cable, or satellite: you buy a slot in a program and reach everyone watching that channel at that time.
- OTT, or over-the-top, is any streaming content delivered over the internet, including on phones, tablets, and laptops.
- CTV is the subset of OTT that plays on an actual television screen.
For advertisers, CTV is the premium end of streaming. It is the biggest screen in the home, where completion rates and attention run highest, and where the lean-back viewing context builds brand recall in a way a muted mobile feed does not.
The practical difference from linear is the buying model: linear is bought by the program and approximated by demographic, while CTV is bought by the impression and targeted at the household or person.
How much does CTV advertising cost?
CTV is priced on a CPM basis, the same model as display and online video. You pay per thousand impressions, and rates move with audience precision, inventory quality, and seasonality. A broad awareness campaign carries a lower CPM than a tightly targeted, identity-matched audience, because precision costs more to deliver.
Typical CTV CPMs run in the $20 to $45 range, depending on those factors and the platform.
Budgets scale across a wide range. A focused test in a few markets can run in the low four figures per month, while always-on national programs reach well into six and seven figures. The model does not change as you scale; what changes is audience size, targeting depth, and measurement sophistication.
A sensible first test for a DTC brand is a single creative, a tightly defined audience, and enough budget to reach meaningful frequency in your strongest markets, which usually means a one-month flight in the low-to-mid four figures.
The DTC CTV playbook: four phases
The rest of this guide is the part you can run against. A CTV program for a direct-to-consumer brand moves through four phases:
- Plan sets the goal and the budget.
- Target decides who sees the ad, and it is where most of the ROAS is won or lost.
- Measure proves what the spend did.
- Optimize compounds the result over time. Treat them in order.
Let’s dive in to the four phase outline and playbook.
Phase 1
Plan the campaign
Start with the job the campaign has to do, because it dictates everything downstream. CTV serves three distinct goals for DTC brands, and they are not measured the same way.
- Prospecting: reach net-new households that look like your best customers, to grow the top of the funnel beyond what saturated social and search can deliver.
- Retargeting: re-engage people who visited your site or engaged with your brand but did not convert, this time on the living-room screen.
- Retention: stay in front of existing customers to drive repeat purchase, or deliberately suppress them to keep prospecting budget clean.
Set the budget to the goal. A prospecting test needs enough impressions to reach a real audience at a frequency that registers, generally three to six exposures per household across the flight.
Spreading a small budget too thin across too many markets is the most common way a first CTV test fails to show signal. Pick your strongest geographies, concentrate spend, and give the campaign room to be noticed.
Plan: one goal, a budget matched to it, concentrated for frequency.
Creative basics
CTV creative is usually a 15- or 30-second video at broadcast quality.
The 15-second spot is the most efficient for a product-focused message: open with a sharp hook in the first three seconds, show the product solving a problem, and close on the brand, the offer, and a clear next step.
The 30-second format buys room for storytelling and emotional connection, which suits brand building. Production no longer requires a six-figure budget; capable teams produce strong CTV spots in the low five figures, and AI-assisted tools for marketing have pushed the floor lower still. Whatever the budget, the creative has to earn the full-screen attention the format gives you.
Phase 2
Target the right audiences
This is the phase that decides your return, and it is where most CTV guides go vague. They tell you to “use first-party data” and “build lookalikes” without explaining the layer that makes any of it work.
That layer is identity resolution. A CTV impression is only as good as the platform’s ability to know which real household it is reaching, and to connect that household back to a person you actually care about.
Here is the problem with renting that layer from a buying platform, and the reason the Walmart-Vibe deal should make you think. When the identity graph belongs to the platform, your audiences are only as portable, as precise, and as durable as that platform allows.
Untitled is built the other way around. The identity layer is yours, and CTV becomes one of several channels you can activate on top of it.
One identity graph, four audience strategies, activated on connected TV.
Step 1: Unify your customer data in the identity graph
Your first-party data is scattered by default: a customer list in one place, email engagement in another, site behavior in a third, purchase history in a fourth. The same person shows up as several disconnected records. Untitled’s identity graph resolves those fragments against a graph of more than 300 million US individuals, collapsing the duplicates into a single, person-level view of who your customers actually are.
That unified base is what every good audience is built from. Feed a messy, fragmented list into a CTV platform and you get messy, fragmented targeting back.
Step 2: Build better segments and lookalikes
Once your customers are resolved to real people, customer segmentation gets sharper and more useful. You can separate one-time buyers from repeat purchasers, high-value from low-value, recent from lapsed, and target each with the right message instead of one blunt audience. Lookalikes improve for the same reason: a lookalike model is only as good as the seed it learns from, and a clean, deduplicated, person-level customer base produces a far more accurate prospecting audience than a raw list full of duplicates and partial records. Better seed, better lookalike, better prospecting ROAS.
Step 3: Expand to net-new demand with intent data
Lookalikes find people who resemble your customers. Intent data finds people who are showing the behavior of someone about to buy in your category right now. Untitled’s buyer intent data lets you expand beyond your known audience to reach in-market households beyond the reach of your CRM and your lookalikes, the demand that exists but that your first-party data cannot see on its own. For a DTC brand trying to grow past the ceiling of Meta and Google, this is how CTV adds genuinely incremental reach rather than re-touching the same people.
Step 4: Fuel retargeting with the Untitled ID Tag
Most site visitors never identify themselves. They browse, they leave, and a cookie-based pixel loses them almost immediately. The Untitled ID Tag identifies anonymous website visitors at the person level by resolving them against the identity graph, which means the audience you retarget on CTV is built from real people who were genuinely on your site, not a decaying pool of cookies.
That closes the loop: a visitor who looked at a product and left can be re-reached on the living-room screen, and because they were resolved to a person, that exposure can be tied back to what they do next.
Why this matters more on CTV than anywhere else. There is no click on a television ad. Without an identity layer connecting the household that saw the ad to the person who later converts, CTV measurement collapses into proxy metrics and guesswork. Resolve identity first, and every one of these audience strategies becomes measurable. That is the bridge into Phase 3.
Phase 3
Measure what actually happened on CTV
This is where the identity-led approach pays for itself. The standard CTV measurement playbook, the one most guides describe, leans on proxy signals because it has no other option: watch for a lift in branded search, watch for a bump in direct traffic, compare conversion rates between exposed and unexposed regions.
Those methods are not wrong, and geo-based incrementality testing in particular is a legitimate gold standard. But they are indirect. They infer that CTV worked rather than showing who it worked on.
When identity is resolved before the campaign runs, measurement changes character. Because the household that saw your CTV ad can be connected to a person, and that person can be connected to a conversion on your site, you get person-level attribution instead of regional inference.
You can see that the ad reached real prospects, that some of them came back, and that some of them bought. That is measurable ROAS on a channel that, for most advertisers, is still measured by vibes and search-volume charts.
| Approach | What it tells you | The limit |
|---|---|---|
| Branded search lift | Awareness rose during the flight | Correlation, not attribution. Cannot name who responded. |
| Direct traffic spike | People visited the site during the flight | Noisy, easily confounded by other channels. |
| Geo incrementality | Causal lift in exposed markets vs. control | Strong, but regional and slow. Still no person-level view. |
| Identity-resolved attribution | Which real people were reached, returned, and converted | Requires an identity layer you own. This is the Untitled approach. |
None of this means you throw out incrementality testing. Run holdouts when the budget supports them; they remain the cleanest proof of causal lift.
The point is that person-level attribution and incrementality reinforce each other, and most DTC brands have never had access to the first one on CTV because they never owned the identity layer it depends on.
Phase 4
Optimize and compound your CTV result
A CTV program gets better the longer it runs, because each flight produces data that sharpens the next one. With person-level measurement in place, optimization stops being guesswork.
- Reallocate by audience, not just creative: when you can see which segments converted, you can shift budget toward the lookalike, intent, or retargeting pool that actually drove revenue.
- Manage frequency: cap exposures so you reach more households instead of fatiguing a few, and use suppression to keep recent converters out of prospecting audiences.
- Feed CTV into the full funnel: CTV creates awareness and intent; search and shopping capture it; retargeting closes it. Suppress and sequence across channels using the same identity layer so the channels stop competing for credit and start compounding.
- Refresh seeds continuously: as new customers convert, they flow back into the identity graph and improve the next lookalike. The program gets smarter on its own.
Optimize: a closed loop where every converted customer makes the next flight smarter.
Putting it together
The Walmart-Vibe deal is going to bring a wave of DTC and retail brands into connected TV, which is good. It also concentrates more of the identity and measurement layer in the hands of platforms that have their own commercial agenda, which is the part to be deliberate about.
The brands that get durable value from CTV will be the ones that treat the buying platform as interchangeable and the identity layer as the asset. Plan the campaign to a clear goal, target it with audiences built from data you own, measure it at the person level, and optimize on what the measurement tells you. Do that, and streaming TV stops being the channel you cannot justify in a ROAS review and becomes one of the most accountable lines in the plan.
About Untitled
Untitled is an identity resolution and audience activation platform for DTC brands and the agencies that serve them. We identify your anonymous website visitors at the person level, unify your first-party data against a 300M+ US identity graph, and let you activate that audience across CTV, programmatic, direct mail, and more, with person-level measurement that makes every channel accountable.
Frequently Asked Questions
How can I run connected TV ads for a DTC brand?
Run it in four phases. Plan the campaign around a single goal (prospecting, retargeting, or retention) and concentrate budget in your strongest markets at a frequency high enough to register. Target with audiences built from your own first-party data: unify your customer records in an identity graph, build lookalikes from that clean base, expand to net-new demand with intent data, and retarget identified site visitors. Measure at the person level so you can tie exposure to conversion, rather than relying only on proxy metrics like branded-search lift. Then optimize by shifting budget toward the audiences that actually drove revenue. The targeting and measurement phases are where an identity platform like Untitled makes the difference between CTV that is accountable and CTV that is a guess.
What is the difference between CTV advertising and streaming TV ads?
They describe the same thing from different angles. Connected TV (CTV) refers to the device: any television connected to the internet through a smart TV, streaming stick, or console. Streaming TV ads describe the content experience: video ads that play inside streaming programming. In practice the terms are used interchangeably for advertising. CTV is distinct from OTT, which includes streaming on phones and laptops as well as TVs, and from linear TV, which is traditional broadcast and cable bought by the program slot.
How do you measure ROAS on connected TV advertising?
Because there is no click on a TV ad, measurement depends on connecting the household that saw the ad to a later conversion. Common methods include branded-search lift, direct-traffic analysis, and geo-based incrementality testing, where exposed markets are compared against control markets. The most direct method is identity-resolved attribution: when your audiences are resolved to real people before the campaign runs, you can see which individuals were reached, which returned to your site, and which converted, producing person-level ROAS rather than regional inference. That requires an identity layer you control, which is the core of Untitled's approach.
How much does CTV advertising cost for a DTC brand?
CTV is priced on a CPM (cost-per-thousand-impressions) basis, typically in the $20 to $45 range depending on audience precision, inventory, and seasonality. A meaningful first test for a direct-to-consumer brand usually runs in the low-to-mid four figures over a one-month flight, enough to reach a defined audience at a frequency that produces signal in your strongest markets. Programs scale from there into five, six, and seven figures. What changes as you scale is audience size, targeting depth, and measurement, not the underlying pricing model.
What does Walmart buying Vibe.co mean for DTC advertisers?
In June 2026, Walmart agreed to acquire the self-serve CTV platform Vibe.co for a reported $1.2 billion, joining Walmart's purchase data to Vibe's identity graph. For DTC advertisers the deal is a strong signal that connected TV is a real, fast-growing opportunity for smaller brands. It is also a reason to be deliberate about data ownership: when a buying platform's identity and measurement layer becomes an input to a large retailer's closed advertising ecosystem, an independent brand has less control over its own audiences and roadmap. The durable response is to own your identity and measurement layer independently, so you can activate on any CTV platform without depending on one provider's priorities.
Is CTV advertising worth it for smaller direct-to-consumer brands?
Yes, and the data shows smaller advertisers agree: the share of small spenders investing in CTV rose from 60 percent in 2024 to 85 percent in 2026. The channel offers full-screen, high-completion attention and the kind of audience precision that used to require enterprise budgets. The key to making it worthwhile at a smaller scale is targeting and measurement: build audiences from your own customer data rather than broad demographics, concentrate budget for frequency, and measure at the person level so you can prove the return and reinvest in what works.
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