Of course. Also TV ads would usually be shown during programs that the advertiser's target audience is most likely to be watching. Like ads for toys between cartoons. That's all fine, you can do the same on the internet without harming anyone's privacy. As an advertising network, you can receive the topic information from the websites themselves as part of them signing up, and users' approximate location can be derived from the IP address.

But instead, they're all hellbent on doing some form of personalization (via tracking) and attribution, and act as if the world would end if all technical means to do that, like third-party cookies, would cease to exist.