Commerce Media Network Examples: 2026 Non-Retail Directory

A commerce media network outside retail is an ad business run by a non-retailer that holds first-party purchase, loyalty or booking data: a bank, card network, BNPL or wallet, airline, hotel group, travel platform, telecom carrier, pharmacy chain, or fuel and convenience operator. This directory lists every such network live in the US, UK and EU, with dated sources.

Each entry gives owner, launch date, data type, formats, sales model, measurement and the latest public scale figure, verified as of 17 October 2026.

• Status. Live means the network sells media today. Pending means announced but not closed or not selling. Building means hiring or stated plans with no product. Platform means a third party that operates inside owners' properties rather than an owner-run network. Defunct means closed.
• Data. The first-party signal the network is built on. "Transactions" means card or wallet payment data across merchants. "Loyalty" means a membership scheme with in-store and online purchases. "Bookings" means travel reservations.
• Formats. Onsite = owner's app, site or email. Offsite = open web, social, CTV through the owner's audiences. Screens = physical screens the owner controls (seatback, in-room, fuel pump, in-store).
• Sales model. Self-serve (an ads manager), managed (sold by the owner's team), via partner (sold or executed by a named third party).
• Measurement. Closed-loop means the network can tie an exposure to a purchase it observes itself. "Offers" means card-linked offers where the merchant pays only on redemption, which is closed-loop by construction.
• Scale figure. Only figures with a public, dated source. "n/d" means not disclosed in any source we could find.

• Visa. Visa Advertising Solutions and the Visa Commerce Network appear in Visa's FY2016 10-K as merchant offer products (Visa 10-K, FY2016). We found no 2025–2026 media network launch. Watchlist.
• Capital One, Chime, Wells Fargo, Bank of America, US Bank, Monzo, Starling, NatWest, Lloyds, N26, bunq. No owner-run network found. Several participate through Cardlytics or Kard.
• Hilton, Hyatt, IHG, Accor, Lufthansa Group, Air France-KLM, Ryanair, easyJet. No first-party-data media network found. Eurowings publishes a 2026 advertising media kit, which is conventional inflight ad sales rather than a data network (Eurowings Media Kit 2026).
• Instacart, Amazon, grocery and general retailers. Retail media; see the retail media hub.
• Nubank, CommBank, Grab, PhonePe and other non-US/EU networks. Out of geographic scope for this edition.

Chase launched the business on 3 April 2024, after acquiring Figg, a card-linked offers platform, in 2022 (Business Wire, 3 April 2024). The model is unusual: the only media format is a cash-back offer inside Chase's own channels, and the advertiser is charged only when a customer views the offer and makes a purchase. That makes attribution trivial and incrementality the real question, which Chase addresses with lift reports. The public numbers are the largest of any bank: 84 million customers, 2.2 billion offer views a month and $11.2 billion in merchant spend driven in 2025 (chase.com, accessed 17 October 2026). At its May 2025 investor day Chase said 16 million customers had activated offers and spent $12 billion through them since launch (The Financial Brand, May 2025). There is no offsite product and no self-serve console, which keeps the data inside the bank and the sales cycle managed. For the compliance pattern this implies, see Case: finance ad tech compliance.

PayPal built its unit in three steps: hiring Mark Grether from Uber and announcing the platform in May 2024, launching onsite ads across PayPal, Venmo and Honey in October 2024, then launching Offsite Ads on the open web on 29 April 2025 with Publicis Media as first agency partner (Digiday, 2024; PPC Land, 29 April 2025). On 17 September 2025 it extended Offsite Ads to Germany and the UK, describing a transaction graph of more than 430 million consumer and merchant accounts across about 200 markets (PayPal, 17 September 2025). PayPal is the only payments network in this list selling display, video and CTV on third-party inventory with closed-loop claims based on its own purchase data. The open question, which PayPal has not answered publicly, is how much of a conversion it can observe when the purchase does not run through PayPal.

Klarna is the only network here with audited ad revenue. Its F-1, filed 14 March 2025, disclosed $180 million of advertising revenue in 2024, 6% of total revenue, up from $13 million in 2020 (Payments Dive, 19 March 2025). The product set is a retail-media clone adapted to a payments app: sponsored search on CPC, brand ads on CPM (partly programmatic through third parties) and an affiliate program on CPA, bought through a self-serve Ads Manager launched in the US in May 2023 (Internet Retailing, 2023). Klarna reported 118 million active consumers and $3.5 billion of revenue for 2025 but did not break out advertising in the public release (Klarna, 26 February 2026). The lesson for banks is that a shopping surface inside the app, not the payment itself, is what makes ads sellable.

The two card-network launches in October 2025 took opposite architectures. Mastercard Commerce Media, launched 1 October 2025, sells card-linked offers on partner channels using permissioned data it says is linked to 160 billion annual transactions, with Citi, WPP Media, Microsoft (Copilot Studio) and American Airlines as launch partners; the "up to 22x return on ad spend" figure is Mastercard's own claim (Marketing Dive, 1 October 2025). Mastercard does not own the consumer surface, so it distributes through issuers and plans point-of-sale and wallet placements from 2026. Amex Ads, launched 6 October 2025, is the reverse: owned surfaces only, starting with AmexTravel.com, sold directly with no programmatic access, targeting 34 million US consumer card members on transaction and travel-booking data, and run separately from Amex Offers, which drove $15 billion of global spend in 2024 (Axios, 6 October 2025). Both are young; neither has published revenue.

United launched Kinective Media on 7 June 2024 with roughly 40 million active MileagePlus members, more than 110 million app downloads, nearly 100 million app sessions a month and nearly 100,000 seatback screens (United, 7 June 2024). The privacy design is explicit: segments are aggregated and anonymized, advertisers get no personally identifiable information, and US customers can opt out. By March 2025 United cited 42 million engaged members and 110 million traveller profiles (The Drum, 14 March 2025). In June 2025 JetBlue became the first syndication partner, with Kinective handling JetBlue's in-flight media sales (Beet.TV, 12 June 2025). The measurement story is strongest for travel advertisers: a Cayman Islands tourism campaign was credited with more than 9,000 bookings on United (Skift, 16 March 2026). In 2026 United merged Kinective's sales and operations team into the MileagePlus partnerships team after leadership departures, and refocused on seatback screens and Starlink connectivity (Adweek, 2026). Read that as the network being folded into loyalty economics rather than closed.

Marriott tried this twice. The first Marriott Media Network, announced 16 May 2022, was a full-stack arrangement with Yahoo: Yahoo's SSP was the exclusive access point and Yahoo's sales team sold the inventory, which spanned display, mobile, video, email and in-room screens for 164 million Bonvoy members in the US and Canada (Marketing Dive, 16 May 2022). On 12 June 2025 Marriott relaunched it in-house as Marriott Media under Chris Norton, citing nearly 237 million Bonvoy members, more than 200 targetable attributes and about 9,500 properties, with placements on Marriott.com, the Bonvoy app, in-room TV, third-party sites and social, and a pilot roster including PepsiCo, Visa, United Airlines, Uber, Starbucks, Audible, American Express and Resy (Hospitality Net, 12 June 2025). The platform is described as consent-based with opt-out. The shift from a partner-operated stack to an owned one is the clearest example in this list of a network bringing the technology in-house once the commercial model was proven.

CMX launched in August 2020 and is the most measurement-forward pharmacy network. It reports more than 90 million addressable ExtraCare members as of July 2025, up from 74 million cited a year earlier (Beet.TV, 16 July 2025; Beet.TV, July 2024). It joined Pinterest's LiveRamp-based clean room in February 2024 and announced a Reddit clean-room collaboration at Cannes in June 2025, in both cases matching loyalty members to platform users without passing identifiable data (Retail TouchPoints, February 2024). CMX has said its reporting aligns with the IAB/MRC Retail Media Measurement Guidelines of January 2024 (IAB, January 2024). The health-data constraint is the thing to copy: offers and audiences are built on front-store loyalty purchases, not prescriptions. See Ad tech compliance: PCI, HIPAA, SOC 2 for why that line matters.

T-Mobile is the only US carrier still building an ad business, and it did so by acquisition. In 2024 it described an in-store retail media network of more than 20,000 screens and a T Life app audience of more than 7 million engaged customers (T-Mobile, 2024). On 5 March 2025 it announced the close of Vistar Media, a digital out-of-home platform with more than 1.1 million screens, for about $600 million, and the acquisition of Blis, a location-based advertising platform, for about $175 million (T-Mobile, 5 March 2025); the FY2025 10-K records $174 million of consideration for Blis (T-Mobile 10-K, FY2025). In May 2025 T-Mobile said its first-party data was available inside the Vistar platform (T-Mobile, May 2025). The regulatory constraint is CPNI, the US rule on customer proprietary network information, which is why the public positioning stresses aggregated and location-based signals rather than subscriber-level targeting.

Data. Every live network in the directory runs on one of three first-party signals: card or wallet transactions (Chase, PayPal, Klarna, Mastercard, Amex, Zilch, Afterpay, Cardlytics, Kard), loyalty membership with observed purchases (Walgreens, CVS, Boots, Superdrug, Casey's, 7-Eleven, Circle K, Marriott, United) or bookings and orders (Expedia, Booking, Uber, Lyft, DoorDash). Transaction networks see breadth across merchants but shallow product detail. Loyalty networks see SKU-level baskets but only inside their own estate. Booking networks see intent and timing. The product follows the signal: transaction networks sell offers, loyalty networks sell sponsored products and offsite audiences, booking networks sell sponsored listings and journey moments. For the mechanics of turning the loyalty signal into audiences, see Shopper data monetization and Retailers turn shopper data into media revenue.

Consent. The networks that disclose their consent model converge on opt-out for aggregated segments and opt-in for anything that touches third-party marketing. United states that advertisers receive no personally identifiable information and that US customers can opt out at any time. Marriott describes the platform as consent-based with easy opt-out. Revolut requires a third-party marketing opt-in before ads appear in its Shops section. Utiq processes network data into pseudonymous signals only after consent through its own portal. The applicable law differs by owner: GLBA for US banks, PCI DSS for anyone touching card data, CPNI for US carriers, HIPAA and state health-privacy laws for pharmacies, and GDPR, ePrivacy and UK PECR in Europe. The directory shows no network publicly selling identified subscriber, prescription or account-level data, and the ones that came closest (telco identity, health retail) built a pseudonymisation layer first. Our ad tech compliance hub collects the relevant frameworks.

Stack. Three patterns recur. First, acquire the offers layer: Chase bought Figg (2022), Citi is buying Kard (2026), T-Mobile bought Vistar and Blis (2025), Mastercard uses Dynamic Yield (bought 2021) for personalization. Second, rent the ad server and self-serve console from a retail media vendor: CitrusAd (Casey's, Wawa, Gopuff), Epsilon (Wawa, Walgreens clean room), Quotient (Rite Aid), Threefold (Boots), Rokt (Walgreens order confirmation). Third, sell through someone else's demand: Yahoo (Marriott 2022), The Trade Desk and OpenX (Walgreens, CVS), Magnite (Expedia, Viasat), Google Ad Manager (Uber), StackAdapt (Lyft), Criteo (DoorDash, Boots). The in-house shift happens later: Marriott replaced Yahoo with its own operation in 2025 and United folded Kinective into loyalty in 2026. The build-or-buy trade-offs are the same as in retail; see Retail media infrastructure: build vs buy.

Measurement. Card-linked offers are closed-loop by construction: the merchant pays on redemption, so attribution is a lookup, and the harder question is incrementality, which Chase answers with lift reports and Mastercard with a ROAS claim it has not had audited. Loyalty networks are closed-loop inside their own stores and rely on clean rooms for everything else, which is why CVS (Pinterest, Reddit), Walgreens (Epsilon) and Boots (LiveRamp, Criteo) all announced clean-room deals. Booking and mobility networks report conversions they observe (United's 9,000 bookings, DoorDash orders) and brand lift for the rest (Lyft's Kantar and Nielsen studies). Only CVS has publicly tied its reporting to the IAB/MRC guidelines. Expect that to change as buyers compare networks; the five KPIs for a retail media network apply unchanged, and the scheduled changes for next year are tracked in Commerce media in 2027. For how clean rooms fit next to a CDP, see Clean rooms vs CDP.

The directory is the entity list; the mechanism pages sit beside it. Financial media networks explained covers the four models banks and payments companies use; Commerce media vs retail media vs financial media gives the definitions and a subset comparison; How a bank can launch a media network without moving customer data is the launch architecture; the commerce media business case template carries the economics with editable assumptions. For the rules behind the consent patterns above, see GLBA and advertising with bank data; for the measurement layer, Clean room architectures compared; for the retail platforms several of these networks rent, Retail media network platforms compared. All of these live in the commerce media hub.

What is the difference between commerce media and retail media? Retail media is advertising sold by retailers on their own data and properties. Commerce media is the broader category that also includes travel, financial services, telecom, delivery and mobility companies doing the same thing with transaction, loyalty or booking data. The IAB formalised this in its July 2025 explainer, and IAB Europe in its March 2025 definitions (IAB, July 2025; IAB Europe, 26 March 2025). Retail media remains the largest and most mature segment.

What is a financial media network? A financial media network is a commerce media network run by a bank, card network, payments company, BNPL provider or wallet, built on transaction data. eMarketer's definition covers ads on financial-services sites and apps plus ads bought through those companies' networks or DSPs using their first-party data, and it forecast US spend of $680 million in 2025 rising to $3.15 billion in 2028 (eMarketer, State of Financial Media Networks 2026). Chase Media Solutions, PayPal Ads, Klarna, Mastercard Commerce Media and Amex Ads are the live US examples; Revolut and Zilch are the UK examples.

Which airlines have media networks? As of October 2026, United (Kinective Media, June 2024) is the only airline with an owner-run network, and JetBlue sells its in-flight media through Kinective since June 2025. Delta has hired a leader for a media network but has not launched. American, Virgin Atlantic and ten other carriers sell in-flight media through Viasat's multi-airline network rather than their own (APEX, March 2025). We found no European airline with a first-party-data network.

How do these networks measure results without an online checkout? Three ways. Card-linked offers settle on redemption, so the purchase is the billing event. Loyalty networks match exposed members to in-store purchases on the loyalty card, and use clean rooms with publishers such as Pinterest or Reddit to extend that match offsite. Booking and mobility networks count bookings or orders they process themselves and use brand-lift studies for awareness campaigns. What none of them can do is observe a purchase that happens outside their own estate without a clean-room match, which is the main reason conversion claims from offsite products should be read carefully.

Can a bank or telco legally run a media network in the EU and US? Yes, within limits that shape the product. In the US, GLBA restricts sharing of non-public personal information by financial institutions, PCI DSS governs card data, CPNI restricts carriers' use of network information, and HIPAA plus state laws such as Washington's My Health My Data Act restrict health data. In the EU and UK, GDPR, ePrivacy and PECR require a lawful basis and, for most offsite use, consent. The networks in this directory handle this by keeping identifiers inside the owner's environment, selling aggregated segments or offers rather than records, and routing any cross-party matching through a clean room. See Data sovereignty defines the future of ad tech and our data sovereignty hub.

1. eMarketer, "The State of Financial Media Networks 2026" (January 2026 forecast). https://www.emarketer.com/content/state-of-financial-media-networks-2026
2. eMarketer, "Financial media ad spend will top $1 billion by 2026" (May 2025). https://www.emarketer.com/content/financial-media-ad-spend-will-top--1-billion-by-2026
3. IAB, "Defining Commerce Media and Its Ecosystem" (July 2025). https://www.iab.com/wp-content/uploads/2025/07/IAB_Commerce_Media_and_its_Ecosystem_Explainer_July_2025.pdf
4. IAB Europe, retail and commerce media definitions (26 March 2025). https://iabeurope.eu/?p=62232
5. IAB/MRC, Retail Media Measurement Guidelines, final (January 2024). https://www.iab.com/guidelines/final-iab-mrc-retail-media-measurement-guidelines-available-for-download/
6. Business Wire, "Chase launches Chase Media Solutions" (3 April 2024). https://www.businesswire.com/news/home/20240403664648/en/
7. Chase Media Solutions site (accessed 17 October 2026). https://www.chase.com/mediasolutions/home
8. The Financial Brand, Chase investor day coverage (May 2025). https://thefinancialbrand.com/news/banking-trends-strategies/chase-sets-ambitious-consumer-banking-growth-at-investor-day-189444
9. Digiday, "How PayPal is using Venmo, Honey transactions to win over marketers" (2024). https://digiday.com/?p=580721
10. PPC Land, "PayPal launches Offsite Ads" (29 April 2025). https://ppc.land/paypal-launches-offsite-ads-with-transaction-data-targeting/
11. PayPal Newsroom, "PayPal Expands Offsite Ads to Germany and the UK" (17 September 2025). https://newsroom.paypal-corp.com/2025-09-17-PayPal-Expands-Offsite-Ads-to-Germany-and-the-UK
12. Payments Dive, Klarna F-1 advertising revenue (19 March 2025). https://www.paymentsdive.com/news/klarna-buy-now-pay-later-bnpl-merchant-advertising-revenue/742883/
13. Klarna Group plc, Full Year 2025 Results (26 February 2026). https://s205.q4cdn.com/644747736/files/doc_news/Klarna-Group-plc-Publishes-Full-Year-2025-Results-2026.pdf
14. Internet Retailing, Klarna Ads Manager rollout (2023). https://internetretailing.net/?p=70426
15. Marketing Dive, "Mastercard makes bigger grab for commerce media dollars" (1 October 2025). https://www.marketingdive.com/news/mastercard-bigger-grab-commerce-media-dollars-new-network/761568/
16. Mastercard, "Powering Smarter and More Personal Advertising With Mastercard Commerce Media" (October 2025). https://www.mastercard.com/hk/en/news-and-trends/press/2025/october/powering-smarter-and-more-personal-advertising-with-mastercard-commerce-media.html
17. Axios, "American Express launches Amex Ads" (6 October 2025). https://www.axios.com/2025/10/06/amex-ads-american-express-media
18. Business Wire, "American Express Unveils Amex Ads" (6 October 2025). https://www.businesswire.com/news/home/20251006227044/en
19. Citigroup, "Citi expands customer engagement and commerce media capabilities with Kard addition" (13 August 2026). https://www.citigroup.com/global/news/press-release/2026/citi-expands-customer-engagement-commerce-media-capabilities-kard-addition
20. FF News, "Revolut to roll out new advertising solutions" (9 June 2023). https://ffnews.com/newsarticle/revolut-to-roll-out-new-advertising-solutions-to-help-brands-connect-with-its-growing-customer-base/
21. Marketing Beat, "Revolut eyes up ad sales market" citing the FT (23 April 2024). https://www.marketing-beat.co.uk/2024/04/23/revolut-ad-sales-market 21a. The Media Leader, "Fintech challenger Revolut 'ready to experiment' with agencies on ad offering" (2023). https://uk.themedialeader.com/fintech-challenger-revolut-ready-to-experiment-with-agencies-on-ad-offering/
22. Revolut, 2025 results press release (24 March 2026). https://www.revolut.com/en-AT/news/revolut_reports_record_profit_of_2_3bn_for_2025_as_revenue_surges_to_6bn/
23. Zilch, "Zilch opens its ASPN to third parties" (June 2023). https://www.zilch.com/news/zilch-opens-its-revolutionary-aspn-to-third-parties-across-the-globe-advancing-a-multi-trillion-dollar-payments-and-advertising-marketplace/
24. Crowdfund Insider, Zilch operating profit and run rate (July 2024). https://www.crowdfundinsider.com/?p=198301
25. PYMNTS, "BNPL Firm Afterpay Debuts Ads" (24 August 2021). https://www.pymnts.com/bnpl/2021/bnpl-firm-afterpay-debuts-ads/
26. Business Wire, "Cash App Afterpay Expands Merchant Network" (21 May 2025). https://www.businesswire.com/news/home/20250521924593/en
27. Cardlytics, Form 10-K FY2025. https://www.sec.gov/Archives/edgar/data/1666071/000166607126000010/cdlx-20251231.htm
28. Cardlytics, Q4 and FY2025 results (4 March 2026). https://www.businesswire.com/news/home/20260304946746/en/Cardlytics-Announces-Fourth-Quarter-and-Full-Year-2025-Financial-Results
29. United Airlines, "United Launches Airline Industry's First Media Network" (7 June 2024). https://united.mediaroom.com/2024-06-07-United-Launches-Airline-Industrys-First-Media-Network
30. The Drum, "United's big bet: how Kinective Media is turning air travel into a commerce powerhouse" (14 March 2025). https://www.thedrum.com/news/2025/03/14/united-s-big-bet-how-kinective-media-turning-air-travel-commerce-powerhouse
31. Beet.TV, "United's Nunn: In-Flight Commerce Is Taking Off" (12 June 2025). https://www.beet.tv/2025/06/uniteds-nunn-in-flight-commerce-is-taking-off-fueled-by-data-and-connectivity.html
32. eMarketer, "Commerce media takes flight: JetBlue partners with Kinective Media" (2025). https://www.emarketer.com/content/commerce-media-takes-flight-jetblue-partners-kinective-media
33. Skift, "United and Marriott Pitch Ad Strategies to Target Travelers" (16 March 2026). https://skift.com/2026/03/16/united-and-marriott-pitch-ad-strategies-to-target-travelers-on-plane-and-hotel-screens/
34. Adweek, "United Reorganizes Advertising Business To Prioritize Starlink and Other Tech Investments" (2026). https://www.adweek.com/commerce/united-reorganizes-advertising-business-to-prioritize-starlink-and-other-tech-investments/
35. Adweek, "Delta Air Lines Follows United in Building an Ads Business" (2026). https://www.adweek.com/?p=1961906
36. Delta News Hub, seatback screen and Wi-Fi update (October 2025). https://news.delta.com/two-years-fast-free-wi-fi-new-experiences-draftkings-youtube-more-access-coming-year.md
37. Marketing Dive, "Marriott launches hospitality media network with Yahoo" (16 May 2022). https://www.marketingdive.com/news/marriott-hospitality-media-network-digital-ads/623806/
38. Hospitality Net, "Marriott International Introduces MARRIOTT MEDIA" (12 June 2025). https://www.hospitalitynet.org/news/4127669.html
39. Marketing Dive, "Expedia launches travel media network" (14 May 2024). https://www.marketingdive.com/news/expedia-travel-media-network-endemic-nonendemic-brands/715497/
40. Expedia Group, Form 10-K FY2025. https://www.sec.gov/Archives/edgar/data/1324424/000132442426000008/expe-20251231.htm
41. Booking Holdings, Form 10-K FY2025. https://www.sec.gov/Archives/edgar/data/1075531/000107553126000009/bkng-20251231.htm
42. Hopper, HTS Media job listing (accessed October 2026). https://careers.brightspark.com/companies/hopper/jobs/62345804-senior-full-stack-ads-engineer-hts-media-services
43. APEX, "Viasat Showcases In-Flight Advertising Potential at SXSW 2025" (March 2025). https://apex.aero/articles/viasat-showcases-in-flight-advertising-potential-at-sxsw-2025/
44. Magnite and Viasat Aviation programmatic partnership (17 June 2026). https://www.barchart.com/story/news/2508051/magnite-and-viasat-aviation-partner-to-bring-programmatic-advertising-to-in-flight-screens
45. Viasat Ads site. https://viasatads.com/
46. T-Mobile, "T-Mobile Expands Advertising Solutions Business" (2024). https://www.t-mobile.com/news/business/t-mobile-expands-advertising-solutions-business
47. T-Mobile, "T-Mobile Advertising Acquires Blis and Closes Vistar Media" (5 March 2025). https://www.t-mobile.com/news/business/t-mobile-advertising-acquires-blis-and-closes-vistar-media
48. T-Mobile US, Form 10-K FY2025. https://www.sec.gov/Archives/edgar/data/1283699/000128369926000010/tmus-20251231.htm
49. T-Mobile, "T-Mobile Advertising Solutions Unveils New Capabilities" (May 2025). https://www.t-mobile.com/news/business/t-mobile-advertising-solutions-unveils-new-capabilities
50. ATDb, Verizon profile (Verizon Media sale, 2021). https://www.theatdb.com/companies/verizon
51. Built In NYC, Verizon "Senior Director, Advertising and Data Monetization" (2026). https://www.builtinnyc.com/job/senior-director-advertising-and-data-monetization/10445972
52. PPC Land, "Utiq reaches 70 million users across six European markets" (18 November 2025). https://ppc.land/utiq-reaches-70-million-users-across-six-european-markets/
53. Marketing Dive, "Walgreens debuts retail media network" (3 December 2020). https://www.marketingdive.com/news/walgreens-debuts-retail-media-network-with-revamped-loyalty-program-front/591550/
54. MediaPost, "Walgreens Advertising Group Launches Self-Serve Programmatic Effort". https://www.mediapost.com/publications/article/371312/walgreens-advertising-group-launches-self-serve-pr.html
55. Fierce Healthcare, "Sycamore Partners closes acquisition of Walgreens" (28 August 2025). https://www.fiercehealthcare.com/finance/sycamore-partners-closes-acquisition-walgreens-splits-pharmacy-retailer-5-standalone
56. Digital Commerce 360, "Walgreens adopts Rokt for retail media network expansion" (9 December 2025). https://www.digitalcommerce360.com/2025/12/09/walgreens-adopts-rokt-for-retail-media-network-expansion/
57. Beet.TV, CMX ExtraCare and Reddit (16 July 2025). https://www.beet.tv/2025/07/from-retail-media-to-reddit-cvs-media-exchange-celebrates-five-years.html
58. Beet.TV, CMX's Pamela Young (July 2024). https://www.beet.tv/2024/07/retail-media-can-help-drive-brand-loyalty-cmxs-pamela-young.html
59. Retail TouchPoints, "CVS Media Exchange Joins Pinterest's Clean Room Initiative" (February 2024). https://www.retailtouchpoints.com/topics/digital-marketing/cvs-media-exchange-joins-pinterests-clean-room-initiative
60. Marketing Dive, "Rite Aid joins ranks of retailers with digital media platforms" (October 2020). https://marketingdive.com/news/rite-aid-joins-ranks-of-retailers-with-digital-media-platforms-for-ads/587087
61. Chapter11Cases, "Rite Aid Seeks Approval for Liquidation Plan" (September 2025). https://chapter11cases.com/blogs/news/rite-aid-seeks-approval-for-liquidation-plan-after-second-bankruptcy-filing
62. Retail Week, "Boots launches marketing agency to supercharge brand partners' campaigns" (September 2021). https://retail-week.com/health-and-beauty/boots-launches-marketing-agency-to-supercharge-brand-partners-campaigns/7040611.article
63. Internet Retailing, Boots Media Group and Advantage Card (2024). https://internetretailing.net/?p=65299
64. ExchangeWire, "LiveRamp, Criteo collaborate ... with Boots as launch partner" (12 November 2024). https://www.exchangewire.com/blog/2024/11/12/liveramp-criteo-collaborate-to-propel-first-party-data-capabilities-for-omnichannel-retail-media-with-boots-as-launch-partner/
65. Marketing Beat, "Superdrug launches retail media network Optimo" (27 October 2023). https://www.marketing-beat.co.uk/2023/10/27/superdrug-retail-media-network/
66. Superdrug, Optimo page. https://www.superdrug.com/test/optimo
67. Retail Gazette, "Superdrug rolls out 500 high-tech digital screens" (April 2025). https://www.retailgazette.co.uk/blog/2025/04/superdrugdigital-screens/
68. CStore Decisions, "Casey's introduces new retail media network" (13 December 2022). https://cstoredecisions.com/2022/12/13/caseys-introduces-new-retail-media-network/
69. C-Store Dive, "Casey's taps GSTV for at-pump video" (25 September 2025). https://www.cstoredive.com/news/caseys-gstv-retail-media-pump/761187/
70. Casey's, Q4 and fiscal 2025 results (9 June 2025). https://www.businesswire.com/news/home/20250609968096/en
71. CSP Daily News, "Behind the scenes of 7-Eleven's retail media network" (October 2022). https://www.cspdailynews.com/technologyservices/behind-scenes-7-elevens-retail-media-network
72. NRF, "Inside 7-Eleven's retail media network" (10 April 2024). https://nrf.com/blog/inside-7-elevens-retail-media-network
73. C-Store Dive, "Wawa launches Goose Media Network" (28 February 2024). https://www.cstoredive.com/news/wawa-retail-media-network-goose-media-network/708701/
74. C-Store Dive, "Circle K relaunches its retail media network" (20 August 2026). https://www.cstoredive.com/news/circle-k-relaunches-its-retail-media-network/828306/
75. Modern Retail, "Circle K gets serious about retail media" (3 August 2026). https://www.modernretail.co/marketing/circle-k-gets-serious-about-retail-media/
76. MidOcean Partners, GSTV portfolio page (April 2025). https://www.midoceanpartners.com/our-business/portfolio-companies/gstv
77. Business Wire, Gopuff Ad Solutions launch (15 June 2021). https://www.businesswire.com/news/home/20210615005877/en
78. Business Wire, "Gopuff Expands its Ads Platform to the UK" (30 August 2023). https://www.businesswire.com/news/home/20230830066649/en/Gopuff-Expands-its-Ads-Platform-to-the-UK
79. Business Wire, "Uber Launches Dedicated Advertising Division" (19 October 2022). https://www.businesswire.com/news/home/20221019005349/en/
80. Business Wire, "Uber Announces Results for Fourth Quarter and Full Year 2025" (4 February 2026). https://www.businesswire.com/news/home/20260204947622/en/
81. Lyft, "Introducing Lyft Media" (August 2022). https://www.lyft.com/blog/posts/introducing-lyft-media
82. Lyft, "Lyft Media introduces new ad solutions" (12 June 2025). https://www.lyft.com/blog/posts/lyft-media-introduces-new-ad-solutions-to-engage-riders-on-the-move
83. MarketBeat, Lyft Q1 2025 earnings call transcript (8 May 2025). https://www.marketbeat.com/earnings/reports/2025-5-8-lyft-inc-stock
84. PYMNTS, "DoorDash Offers Merchants Sponsored Listings Tool" (12 October 2021). https://www.pymnts.com/?p=1168555
85. PPC Land, "DoorDash drives 27% revenue growth with advertising gains in Q3" (2025). https://ppc.land/doordash-drives-27-revenue-growth-with-advertising-gains-in-q3/
86. DoorDash, Form 10-K FY2025. https://www.sec.gov/Archives/edgar/data/1792789/000179278926000013/dash-20251231.htm
87. Visa, Form 10-K FY2016 (Visa Advertising Solutions, Visa Commerce Network). https://www.sec.gov/Archives/edgar/data/0001403161/000140316116000058/v093016.htm
88. Eurowings, Media Kit 2026. https://www.eurowings.com/content/dam/eurowings/Content/WerbenbeiEurowings/Eurowings_Media_Kit_Short_2026_EN.pdf

• 18 October 2026: aligned the title and heading and applied recorded source-URL corrections where needed. Factual research cutoff remains 17 October 2026.

• 17 October 2026. First edition: 36 entries across 6 categories (24 live owner-run networks plus JetBlue via syndication and Booking's unbranded ad business, 1 pending, 2 building, 1 emerging, 1 defunct, 5 platforms). Next review 15 January 2027.