Targeted advertising is like the difference between spam and spear phising. The person being advertised to rarely (if ever) benefits.
Instagram has gotten so good at targeting me that I probably click on at least 1/2 the ads because I find them interesting. I've purchased things because of those clicks too, and have enjoyed the purchases. Things I would have never known about were it not for the ads.
Of course the abuses are also plentiful and dangerous. We probably do need a lot of regulation. But in general targeted advertisement is a useful thing to have.
This, like TV, doesn't require tracking of individual people who haven't consented to such.
That's a stretch. How do you think they determine any information about the "known" audience? Obviously, they do all sorts of research to determine more about the audiences watching certain shows and channels, likely by sifting through social media, show reviews (IMDB, etc), and elsewhere to determine who's watching what shows, then looking into their profiles to determine their interests. Aggregate that data, find what they all have mostly in common, and cater to those interests. It's just a more generalized and difficult process of the same thing, and eventually it's going to become more narrowed and specific to individual targets.
I can also have a discussion with my friends about My Little Pony and how amazing the last episode was without an algorithm picking that up, unless I publish it to the world or explicitly send it to the advertiser.