AdExchanger Talks – Sussing Out 'Performance TV'

Date: March 24, 2026
Host: Alyssa Boyle (Senior Editor, AdExchanger)
Guest: Aaron Ferneno (SVP of Business Intelligence, Advertiser Perceptions)

Episode Overview

This episode of AdExchanger Talks dives deep into the rapidly evolving concept of “Performance TV.” Host Alyssa Boyle and guest Aaron Ferneno unpack what “Performance TV” actually means, explore the distinctions between streaming/CTV and traditional linear TV for performance goals, and discuss how the marketing industry is adapting strategies and technology to bridge the gap between branding and measurable lower-funnel outcomes. The episode also considers challenges around measurement, attribution, and viewer experience as TV environments become increasingly digital.

Key Discussion Points & Insights

What Is “Performance TV”? (02:45 – 03:21)

• Definition: Aaron Ferneno frames "Performance TV" as the use of TV (primarily streaming and CTV) as a lower-funnel channel for performance outcomes such as sales lift and site traffic, akin to traditional digital channels.

  • Quote: “To me, Performance TV is the idea that TV can be used as a lower funnel channel and offer the same insights and meet lower funnel objectives like sales lift and site traffic as other performance channels.”
    — Aaron Ferneno (02:45)

• CTV vs Linear TV: Aaron distinguishes that performance TV predominantly refers to streaming and CTV, not linear TV, due to richer signal and targeting capability.

  • Quote: “Personally, when I hear performance TV... I’m thinking of streaming and CTV. I’m not thinking of linear TV.”
    — Aaron Ferneno (02:58)

Signals, Targeting & Measurement (04:01 – 07:56)

• Streaming’s Edge: Streaming TV provides more robust data signals and targeting tools, making it better suited for performance goals compared to legacy linear TV.

  • Quote: “Streaming TV also has more signals than linear TV and different targeting capabilities. So I think it's just further down the road...”
    — Aaron Ferneno (04:21)

• Measurement vs. Targeting: The industry is more focused on measurement and proving outcomes, rather than just targeting.

  • Quote: “Their goal is more about measurement. Their goal is to understand outcomes.”
    — Aaron Ferneno (05:25)

• Defining Outcomes: While high-funnel metrics like reach remain important, advertiser expectations for performance TV center on understanding incremental performance, even if direct clicks or conversions are limited.

  • Quote: “Advertisers see streaming TV as a performance multiplier... they understand that a streaming TV campaign can support outcomes over time.”
    — Aaron Ferneno (06:25)

Incrementality Testing (07:57 – 09:52)

• Incrementality Focus: Marketers are increasingly interested in using incrementality testing (i.e., control groups, A/B testing) to assess actual performance lift from streaming campaigns, despite slower or less direct attribution compared to traditional digital.

  • Quote: “I think, honestly, what marketers and media buyers should be focused on is incrementality testing.”
    — Aaron Ferneno (07:57)

• Budget Implications: Larger advertisers plan for testing within their media budgets, but performance claims for CTV face skepticism due to expense and indirect conversion paths.

CTV Budget Allocations & Industry Research (11:32 – 14:02)

• Current State: Only 24% of CTV campaigns are designated as having performance (lower-funnel) goals, a figure flat for several years.

  • Breakdown: 24% lower-funnel, 21% full-funnel, 55% upper/mid-funnel.
  • Quote: “24% of CTV or streaming campaigns have lower funnel goals ... marketers are absolutely still primarily seeing streaming TV as best suited for branding and upper funnel goals.”
    — Aaron Ferneno (11:32)

• Barriers: Higher CPMs of CTV, longer attribution windows, and the challenge of connecting TV viewing to second-screen conversions make advertisers wary of overcommitting to performance claims.

The “Middle Ground” & Second-Screen Dynamics (14:02 – 16:03)

• Conversion Pathways: Rather than expecting “click-to-buy” or direct conversion on the TV screen, advertisers are innovating around indirect conversion paths (e.g. QR codes for notifications or later engagement).

  • Quote: “There's sort of a path to conversion rather than just a straight up conversion...”
    — Alyssa Boyle (14:02)

• Closed-Loop Ecosystems: Walled-garden environments like YouTube or Amazon/Prime Video are better positioned to demonstrate performance due to tight integration between platform exposure and conversion data.

  • Quote: “The platforms that are going to be most successful ... are the ones in closed loop ecosystems like YouTube or Prime Video where they can ... bridge the gap between streaming and search lift or sales lift.”
    — Aaron Ferneno (15:21)

Trends in Attribution, Partnerships & Platform Tech (20:48 – 25:31)

• Walled Gardens Becoming Porous: Although closed attribution environments could increase fragmentation, recent industry partnerships (e.g., Netflix with Amazon and Yahoo) are bringing more data interoperability—lowering the “garden walls.”

  • Quote: “I almost see walled gardens becoming more porous ... they are opening up the pipes. They're allowing third-party data to integrate ... which helps minimize this fragmentation.”
    — Aaron Ferneno (21:36)

• Conversion API (CAPI) Adoption: Streaming platforms are adopting “CAPIs” (Conversion APIs) similar to social and digital channels, helping advertisers tie exposure to site actions/sales and see attribution data more clearly.

  • Quote: “A CAPI will allow, you know, Roku, Netflix, advertisers to see ... if an audience is showing up in attribution reports.”
    — Aaron Ferneno (24:31)

Self-Serve Platforms & SMBs (26:22 – 28:00)

• Rise of Self-Serve Ad Buying: Platforms are launching self-serve ad tools (Paramount, Roku, NBCU) to allow easier access, especially for SMBs. Larger advertisers often still prefer their own or third-party DSPs for buying and reporting.
  • Quote: “Having your, your own ad buying platform as a streaming publisher... offers optionality. I think advertisers do like the idea of having their buys in their one preferred DSP. I think of course, self serve is great for the SMB space.”
    — Aaron Ferneno (26:50)

Programmatic & Measurement (28:51 – 29:51)

• The Future is Programmatic: Programmatic CTV buying is expected to grow, especially as technology solves for live events and further integrates with established DSP reporting dashboards.

  • Quote: “My money is on more programmatic buying.”
    — Aaron Ferneno (28:51)

• Primary Programmatic Appeal: Advertisers cite reporting as the main draw of programmatic streaming TV buys—granular data makes performance assessment easier.

  • Quote: “What I'm hearing from advertisers, it's the reporting. If I had to choose spot.”
    — Aaron Ferneno (29:40)

Advertiser Adaptations & Tooling (30:45 – 32:36)

• Custom Solutions Prevail: Many agencies and buyers are creating their own tools to measure the impact of streaming on performance metrics rather than waiting for industry-wide standards.
  • Quote: “A lot of agencies are sort of building their own tools to understand the impact that streaming has. So I think that if platforms can help meet those needs ... that would just make a lot of advertisers very happy.”
    — Aaron Ferneno (30:45)

Upfronts Outlook & Final Takeaways (32:36 – 36:23)

• Content Still Rules: Upfront presentations remain anchored in content, but tech and attribution get growing attention, especially in advance press or at events like CES.

  • Quote: “The upfronts is going to be about, you know, performance and ad results, but it's not going to take up too much of the shows.”
    — Aaron Ferneno (32:36)

• Advice: Don’t Overdo Performance TV

  • Respect the viewing experience; don’t overload CTV with QR codes or invasive creative, and maintain TV’s unique branding value.
    • Quote: “Don't make it crappy. In our pursuit of making streaming TV more accountable ... keep the consumers still front and center ... Let's not start creepy targeting on streaming TV.”
      — Aaron Ferneno (34:35)

Notable Quotes by Timestamp

• On the definition of Performance TV:
  “To me, performance TV is the idea that TV can be used as a lower funnel channel and offer the same insights and meet lower funnel objectives like sales lift and traffic site traffic as other performance channels.”
  — Aaron Ferneno (02:45)

• On streaming TV’s measurement focus:
  “Their goal is more about measurement. Their goal is to understand outcomes.”
  — Aaron Ferneno (05:25)

• On incrementality testing:
  “What marketers and media buyers should be focused on is incrementality testing.”
  — Aaron Ferneno (07:57)

• On barriers to CTV as a performance channel:
  “Advertisers have like a healthy skepticism regarding CTV’s ability to act as a performance channel and prove lower funnel outcomes.”
  — Aaron Ferneno (13:00)

• On welcoming CAPIs in CTV:
  “I think it’s great. I think it’s a positive step in the right direction... anything that platforms can do to build out their infrastructure that recognizes how digital advertisers typically activate campaigns ... is a positive.”
  — Aaron Ferneno (24:31)

• On user experience and the limits of ‘performance’ in TV:
  “Let’s not start creepy targeting on streaming TV. I think that we need to keep in mind how consumers watch streaming and keep in mind the unique value of TV and the ability to tell your brand story on a big screen in a premium environment.”
  — Aaron Ferneno (34:35)

Major Segments & Timestamps

• Setting the Stage: Defining Performance TV: 00:58 – 03:21
• Signals, Outcomes & Measurement: 04:01 – 07:56
• Incrementality & Budgeting: 07:57 – 09:52
• CTV in Practice: Research & Outcomes: 11:31 – 14:02
• Second-Screen Behavior & the ‘Middle Ground’: 14:02 – 16:03
• Attribution & Industry Partnerships: 20:48 – 24:31
• CAPI Adoption & Self-Serve Trends: 24:31 – 28:00
• Programmatic’s Role: 28:51 – 29:51
• Adapting With Custom Tools: 30:45 – 32:36
• Upfront Season & Advice: 32:36 – 36:58

Tone & Takeaways

The discussion strikes a friendly but incisive tone, mixing optimism about emerging technology and collaboration (e.g., partnerships, CAPIs, programmatic) with realism about the industry's limits and risks—especially around measurement, fragmentation, and respecting user experience. The ultimate message: CTV is edging closer to acting like a true performance channel, but advertisers, platforms, and publishers must balance accountability with creative sensibility and consumer respect.

Final Advice: Don’t oversaturate CTV with aggressive performance tactics; keep the consumer front and center and remember the unique story-telling power of TV.