A retail media network is set up in five stages: value the owned media the network will sell, build the business case, set benchmarked rates, stand up the operations, and take the proposition to partners. Skipping the first stage is the most common and most expensive mistake.
Start with the asset. A media network is a business built on owned media, and you cannot structure a business case until you know what that media is worth. A bottom-up valuation quantifies every format, its audience, and its fair market value, and shows whether a network is the right model at all.
It isn’t always. Around half of the organisations Sonder works with choose not to run a network, commercialising their owned media instead through value-exchange and indirect revenue models. The valuation guides which model fits your assets, audience and partners.
If the network stacks up: build the go-to-market roadmap, set rates partners can trust (benchmarked, not guessed), align the internal stakeholders, and put the operational backbone in place, inventory, bookings, campaign management and reporting, so the network can run at scale rather than in spreadsheets.
The model extends well beyond retail. Telcos, banks and travel brands operate as commerce media networks, and the opportunity there is substantial: airlines, banks and hotels have already set up and Sonder’s 2026 Global Report identifies large telcos as holding the biggest unrealised media-network opportunity across the US, UK and Australia.
FAQs
What is the difference between a retail media network and a commerce media network?
The model is the same, selling advertising across the media an organisation owns, but retail media networks are run by retailers, while commerce media networks are run by non-retailers such as telcos, banks and travel brands.
What is the first step in setting up a retail media network?
Valuing the owned media the network will sell. Rates, inventory, the business case and the partner proposition are all built on that valuation.
Do we need a media network to make money from our owned media?
No. Around half of Sonder’s clients don’t run a network, using their valuation to commercialise owned media through value-exchange and indirect revenue models.
