How addressable differs from a TV spot
A conventional television spot buys everyone watching a programme at a time. Addressable television buys the households you selected, wherever in the schedule they happen to be, by substituting your ad for the one that would otherwise have played. In the UK that substitution happens at the Sky or Virgin set-top box on linear inventory, and in the stream on broadcaster video-on-demand.
The substitution also sets the targeting vocabulary. If you are buying a slot, you talk about programmes, dayparts and audience delivery against a demographic. If you are buying households, you talk about attributes the broadcaster's data partner holds against an address, and about the postcode geography those addresses sit in. Everything awkward about addressable TV targeting follows from that one substitution, including the fact that the selection is made before anybody sits down in front of the television.
Because the buy is a household selection rather than a share of an audience, it is also sold differently, with a minimum spend rather than a minimum weight. Sky's AdSmart site advertises TV from as little as £3,000, and that is the figure to plan a first burst around.
Sources: AdSmart from Sky, Home page (vendor claim); AdSmart from Sky, Affordable and accountable (vendor claim).