Interactive TV has started to penetrate broadcasting markets, providing a new user experience through novel services to subscribers and new revenue opportunities for companies. Personalization and intelligent behavior, such as proactive content delivery are considered key features for the services of the future TV. However, most of the work in this area is limited to personalization of electronic program guides and advanced program recommendation. In this article, the authors adopt a more horizontal approach and describe the application of concepts, practices and modern Web trends to the TV domain in the context of the POLYSEMA platform. A key characteristic of this approach is the formal modeling of multimedia and user semantics that enables novel TV services. Specifically, Semantic Web methodologies are employed (e.g., ontologies and rules) while compatibility with the MPEG-7 standard is also pursued. The paper describes the overall architecture of the platform, provides implementation details and investigates business issues.