The news: Connected TV (CTV) advertising needs new measurement frameworks to be a more attractive media channel, according to industry leaders at Advertising Week New York.

“CTV should be … on the hook for business outcomes and attributions,” Nicole Scaglione, vice president of CTV/OTT and OLV at PubMatic, said during a Tuesday panel. “Measurement is so all over the place, we need something threading it together.”

Sean Muzzy, president of Acxiom, also called for better measurement but cautioned against an oversimplified approach. “There can’t be one standard [for all campaign types],” he said.

Why it matters: CTV measurement frameworks could pull together varying metrics and prove that the format can accomplish unique performance outcomes. While new tools can better illustrate performance on a specific platform, frameworks would help advertisers make sense of the data they receive. If each platform gives advertisers a different picture of performance, it’s difficult to create a unified CTV strategy.

But because brands can use CTV ads to drive anything from awareness to website visits to first-party data acquisition, frameworks will need different standards of transparency for each objective.

The industry is optimistic about these developments. Trade organizations like the Interactive Advertising Bureau (IAB) have already made moves to build out CTV-specific ad frameworks. And 47% of US CTV ad buyers expect CTV to make its biggest strides over the next 12 months in measurement and attribution standards, per an EMARKETER survey.

Implications for advertisers: CTV is already commanding big ad budgets, but measurement improvements could take interest to a new level. Advertisers will want to wait for new standards to take shape before diverting spend from other well-established media channels, such as social media.

In the meantime, strengthen CTV strategies by determining which business outcomes the channel is best suited to drive. Finding CTV’s incremental growth opportunities will make it a worthwhile investment even if measurement frameworks aren't fully developed.