Interactive TV, also referred to as iTV, combines the appeal and mass audience of traditional TV with the interactive nature of the Web. As such, it offers viewers an active entertainment experience and industry players new business opportunities to learn better about and serve their audience and prospective customers. Interactivity, in particular, implies a two-way communication between the viewer and the medium, allowing for unprecedented personalization of programming and services. In this paper we deal with the topic of advertising over digital interactive TV and describe a specific approach to the delivery of personalized interactive advertisement content to viewers based on their individual profiles. The emphasis is placed on the transformation of industry business models that the new technological developments imply. The main implication of iTV advertising is a whole new set of information and information flows among industry players that are introduced to take advantage of interactivity and personalization. We suggest that a new value chain and new market intermediaries will be needed to harness the new information flows, proposing an integrated industry business model for a future technological platform.