underestimates or overestimates? There is advertising that doesn't require tracking. Simple brand-awareness-building and content-based advertising is pretty pro

underestimates or overestimates? There is advertising that doesn't require tracking. Simple brand-awareness-building and content-based advertising is pretty profitable without requiring tracking. For a website, the lack of personally-targeted ads may be offset by increasing the number of ad slots. I wonder if there is an estimate on how much value tracking adds. There is no reason to expect that ad spending will drop in total, because ads never worked very well in any medium, but they worked well enough that it's worth investing in them. The portion of ad spending in TV has not changed significantly the past decades, what has happened is spending has shifted from newspapers to online. but the overall the volume keeps increasing in all media [1] https://cdn.static-economist.com/sites/default/files/images/print-edition/20170401_WBC308.png https://cdn.static-economist.com/sites/default/files/images/...