Expedia's new retail media business is a venture that aims to build 'the world’s leading travel media network.' This business promises to leverage retailer-held first-party data to target key audiences, offering advertisers various advertising options such as sponsored listings, paid search ads, and digital display on Expedia's 200-odd sites. Additionally, Expedia is providing its internal media buying team's expertise and measurement services to travel advertisers for off-site media buys.

Expedia's internal media buying team offers the following services to advertisers:

• Expertise in media buying for Expedia's own brands, such as Vrbo, Hotels.com, and Trivago.
• Measurement services to evaluate the effectiveness of advertising campaigns.
• Assistance with off-site media buys, leveraging their in-house knowledge and experience.
• The team also supports Expedia's 'audience extension' products, which include advertising channels like YouTube, Samsung Smart TV, Apple TV, Playstation, Xbox, and Amazon FireTVStick.

Features of Expedia's retail media network (RMN) include:

• Utilization of customer intent and purchase data for display ads on Expedia's owned and operated properties.
• Availability of programmatic guaranteed ad placements.
• A pilot campaign example with a 'Visit Canada' campaign on billboards at London's Heathrow airport.
• Audience extension products across various digital platforms.
• Partnerships with companies like Netflix, Pinterest, and Disney+ for bespoke campaigns.
• In-house creative agency, Media Studio, for campaign planning and execution.
• A data clean room solution to facilitate the use of first-party data.
• Targeting smaller and mid-sized advertisers with a focus on brands endemic to the travel sector.

Despite concerns about market saturation and inadequate standardization in the retail media market, Expedia believes there is demand for its retail media network due to several reasons:

• Expedia's vast first-party data: The company has access to extensive customer data, which is valuable for targeting and personalization.
• Focus on travel sector brands: By concentrating on brands endemic to the travel sector, Expedia can offer specialized advertising solutions.
• Unique offerings: Expedia's range of services, including audience extension products and partnerships with major digital platforms, provides a comprehensive advertising solution.
• Expertise: The internal media buying team's expertise is an asset for advertisers, especially those without the budget for major media agencies.

Industry experts like Sean Crawford and Alex Walker also suggest that there's enough room in the market for Expedia's RMN, given its niche focus and the power of the data it holds.

The text does not specify an exact date for when Expedia's self-serve tools for off-site media buying will be available. It mentions that the company has plans to build these tools, but no timeline is provided for their release. This is an area of development that advertisers may want to monitor for future updates from Expedia.