A method and system for managing display of personalized advertisements in a user interface (UI) of an on-screen interactive program guide (IPG). The method comprises determining whether a user group of a current primary user matches with at least one of targeted user groups, selectively adding advertisement asset images corresponding to the matched user group into an advertisement bouquet, calculating a number of impressions of each of the advertisement asset images to display to the current primary user on a given day, calculating an advertisement sequence for each of the advertisement asset images to display to the current primary user on the given day, optimizing performance for delivery and display of the advertisement asset images and displaying the advertisement asset images during at least one of organizing, navigating, gifting, downloading and buffering at least one of AV and multimedia contents.