CVS Media Exchange

What CVS Media Exchange does

CVS Media Exchange (CMX) is the retail media network of CVS Pharmacy, founded in 2020 and operating as a division of CVS Health. The company enables brand advertisers and agencies to reach 90M+ addressable ExtraCare loyalty members across omnichannel inventory spanning CVS.com, the CVS Health app, 9,000+ CVS retail locations, and offsite channels including programmatic display, Connected TV, social platforms (Facebook, Instagram, Pinterest, Reddit), audio (Spotify, in-store audio via Vibenomics), and YouTube. CMX's core competitive asset is the ExtraCare first-party data set combined with deterministic in-store transaction visibility, enabling closed-loop attribution that ties media exposure to verified point-of-sale purchases.

The platform is built around CorIQ, a proprietary AI-powered media platform that performs real-time audience optimization, frequency capping, dynamic audience refreshing, and IAB-aligned iROAS incrementality measurement. Supporting infrastructure includes CMX Programmatic Self-Service (powered by The Trade Desk DSP), CMX Private Marketplace for Sponsored Product, CMX Performance Dashboard, CMX Co-Branded Campaign Dashboard, and clean room collaboration via LiveRamp. Pricing mixes usage-based CPC (Sponsored Product), CPM (Sponsored Brand), auction-based programmatic bidding, and quote-based managed services for tentpole campaigns such as Epic Beauty Sale, January Wellness, Big Hair, Summer Sun Care, and Holiday.

CMX generates revenue from advertising fees across display, sponsored product, video, social, in-store, and audio placements, sold both directly via partner managers and through self-service programmatic. Primary customer segments are enterprise brands in Beauty & Personal Care, Health & Wellness (OTC, vitamins, supplements), General Merchandise/Consumables/Food & Beverage, and Pharmaceutical/Consumer Health. CMX orchestrates seasonal tentpole campaigns that integrate CVS front-store marketing, media, and promotional activation exclusively through CMX, and is the first health and wellness RMN to align with IAB In-Store Retail Media Measurement Standards.

Name

CVS Media Exchange

Legal name

CVS Health (CVS Media Exchange is a division of CVS Health)

Website

https://cvsmediaexchange.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

101–250 employees

Short description

CVS Media Exchange is the retail media network of CVS Health, enabling brand advertisers to reach 90M+ ExtraCare loyalty members across digital, in-store, CTV, social, and audio channels with first-party data targeting, proprietary CorIQ AI optimization, and IAB-aligned closed-loop measurement.

Ownership category

akta.pro rank

Product category

Retail Media Network

NAICS

Media Buying Agencies (541830), Media Buying Agencies (54183), Advertising Agencies (541810), Pharmacies and Drug Retailers (456110), Pharmacies and Drug Retailers (45611)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Customer Experience (CX) & Voice of Customer (NPS/CSAT, Journey Research) (MPAAALAH)

akta.pro secondary industry

Customer Communications Management (CCM) & Transactional Messaging (MPAAAIAL)

Keywords

• Retail media network
• First-party data advertising
• Omnichannel media solutions
• Programmatic advertising platform
• Shopper marketing analytics

Headquarters

HQ city

Woonsocket

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Retail Media Advertising: CMX enables brand advertisers to reach CVS Pharmacy customers and ExtraCare loyalty members through digital and in-store ad placements. Revenue is generated through advertising fees across multiple formats including display, sponsored product, video, social, in-store, and audio. CMX operates as the retail media network of CVS Pharmacy, managing both onsite (CVS.com, CVS Health app, in-store) and offsite (social platforms, programmatic web, CTV, premium publishers, audio) placements.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

CVS Media Exchange (CMX) is the retail media network of CVS Pharmacy. It sells omnichannel advertising placements and campaign services to brand advertisers and agencies, using the first-party purchase behavior of 90M+ ExtraCare loyalty members to power audience targeting, closed-loop measurement, and incrementality attribution across CVS.com, the CVS Health app, CTV, social platforms, audio, and roughly 9,000 CVS retail stores. Offerings span managed-service campaigns, programmatic self-service (powered by The Trade Desk), sponsored product and search, sponsored brand, in-store digital screens, audio, and tentpole seasonal activations (Epic Beauty, January Wellness, Holiday, etc.).

Product overview

CVS Media Exchange (CMX) is a health and wellness-focused retail media network operating as a platform-plus-modules architecture. The core platform is powered by first-party data from 90M+ addressable ExtraCare loyalty members and delivers omnichannel advertising solutions across Display, Video, Social, Audio, In-Store, and Sponsored Product channels. The portfolio includes proprietary AI-powered intelligence platform CorIQ for media planning and optimization; self-service tools (CMX Programmatic Self-Service via The Trade Desk, CMX Performance Dashboard, CMX Co-Branded Campaign Dashboard); and specialized offerings like CMX Private Marketplace, iROAS measurement, and Clean Room collaboration. CMX also orchestrates tentpole campaigns aligning with CVS seasonal events (Epic Beauty, Big Hair, January Wellness, Holiday) to deliver amplified brand impact.

Differentiator

Problem solved

Functional benefit

Brands

• CorIQ: AI-powered media platform for campaign optimization, real-time audience adjustment, and performance measurement.
• CMX Programmatic Self-Service
• CMX Performance Dashboard
• CMX Private Marketplace

Products and services

• CMX Display Display advertising placements reaching CVS.com shoppers and offsite audiences across the web. Targeted using ExtraCare first-party data.
• Sponsored Product & Search Sponsored product and search advertising on CVS.com and the CVS Pharmacy app, priced on a cost-per-click basis with prominent placement for high-intent shoppers.
• Sponsored Brand Premium brand display advertising on CVS.com, priced on a CPM model, providing high-visibility brand placements with conquesting and lockout keyword targeting.
• CMX Video (Video & Streaming) Video and streaming advertising across YouTube, Connected TV (Disney, Hulu, NBC Universal, Fox, and 100+ OTT channels/apps), and programmatic video.
• CMX Social Social media advertising promoting brands on Facebook, Instagram, Pinterest, and Reddit, with ExtraCare audience targeting and closed-loop measurement.
• CMX Audio Audio advertising including Spotify premium audio and programmatic in-store audio across 6,900+ CVS stores, with targeting capabilities such as geotargeting, dayparting, and inventory targeting.
• CMX In-Store Media In-store retail media across approximately 9,000 CVS locations, including digital displays, Digital Trendcaps, Waiting Area Screens, and in-aisle placements, providing point-of-purchase reach.
• CMX Heart Haus CMX programmatic offering within the solution portfolio for brands to engage audiences through curated, shoppable experiences.
• CMX Programmatic Self-Service Self-service platform powered by The Trade Desk enabling advertisers to activate Display and CTV campaigns using CMX ExtraCare audience segments with auction-based bidding.
• CMX Performance Dashboard Real-time campaign performance reporting dashboard providing engagement metrics, reach, frequency, new buyers, attributed sales, and IAB-aligned reporting.
• CMX Private Marketplace Private marketplace providing direct access to Sponsored Product campaigns with enhanced targeting and 14- and 30-day offline sales lookback windows.
• CMX Co-Branded Campaign Dashboard On-demand measurement dashboard giving brands visibility into tentpole campaign performance, added-value impressions, new-to-brand buyers, attributed sales lift, and basket size growth.
• CorIQ AI Media Platform Proprietary AI-powered media platform built on ExtraCare first-party data, delivering media planning, real-time audience optimization, frequency capping, dynamic audience refreshing, and closed-loop measurement.
• iROAS Measurement Incrementality measurement methodology using balanced test versus control groups aligned with IAB standards, providing true incremental sales impact measurement for retail media campaigns.
• Clean Room Collaboration Clean room data collaboration enabling closed-loop reporting and attributed sales visibility with trusted data transparency for cross-channel campaign measurement.
• CMX Tentpole Campaigns Seasonal omnichannel campaign program combining CVS front-store marketing and CMX media targeting for key shopping moments such as Epic Beauty Sale, Big Hair, January Wellness, and Holiday, delivering 2–5x higher ROAS than average branded campaigns.

Quantifiable outcome

• 277,000 new buyers converted during CVS Epic Beauty Sale campaign
• +15 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

AI capability9 records

Feature8 records

Partnerships

13 partnerships are on record, tiered minor and core.

• SmartCommerceminorGTM or Marketing Partner · 12 January 2026ADWEEK House CES Group Chat panel co-hosted with SmartCommerce, alongside DoorDash and Amazon Ads. Industry executives discussed shoppable media, AI-driven personalization, and full-funnel marketing strategies bridging media consumption to purchase.
• DoorDashminorGTM or Marketing Partner · 12 January 2026DoorDash participated in ADWEEK House CES Group Chat panel co-hosted by CMX. DoorDash and CMX executives discussed how brands and retailers are adapting to shoppable media as consumer purchasing moves earlier in the funnel.
• Amazon AdsminorGTM or Marketing Partner · 12 January 2026Amazon Ads participated in ADWEEK House CES Group Chat panel co-hosted by CMX. Amazon Ads executives discussed AI-driven advertising personalization and full-funnel marketing alongside CMX.
• SpotifyminorChannel Partner/ Reseller/ Distributor · 20 October 2025CVS/CMX expanded retail media efforts beyond traditional platforms by partnering with Spotify for audio advertising. Part of CVS's broader offsite media expansion strategy to reach CVS shoppers on platforms where they consume content.
• PinterestminorChannel Partner/ Reseller/ Distributor · 20 October 2025CMX partnered with Pinterest for social media advertising. CMX leverages Pinterest Interests behavioral layers for audience targeting, combined with ExtraCare loyalty insights. Pinterest's 68M+ health-focused users and 82% higher likelihood of reaching beauty enthusiasts make it a key social channel for CMX brands.
• RedditcoreGTM or Marketing Partner · 13 June 2025First-of-its-kind health and wellness retail media collaboration. CMX combines ExtraCare member purchase-based targeting with Reddit's community targeting (interests, keywords, subreddits) to reach ExtraCare members within real-time health, wellness, and beauty conversations. LiveRamp clean room enables closed-loop sales attribution on Reddit — first time sales attribution is available on Reddit through a retail media network. Announced at Cannes Lions 2025.
• LiveRampcoreTechnology or Integration · 13 June 2025Clean room collaboration between CMX, Reddit, and LiveRamp enables secure matching of ad exposure on Reddit to ExtraCare transactions, providing closed-loop sales attribution and validating Reddit as a measurable performance channel for retail media campaigns.
• The Trade DeskcoreTechnology or IntegrationCMX Programmatic Self-Service is powered by The Trade Desk — the fastest growing DSP. The Trade Desk enables advertisers to access CMX ExtraCare audience segments and premium CVS inventory (Display and CTV) directly through their existing DSP seat. Also used for in-store audio activation via programmatic buying.
• KenvuecoreGTM or Marketing PartnerKenvue participated in an ADWEEK House Possible panel co-hosted with CMX. Kenvue and CMX reported joint measurable results including a 30% or greater lift in buyer conversion and basket size when combining CMX's ExtraCare data targeting with Kenvue brand campaigns.
• Vibenomics (Mood Media Company)coreTechnology or IntegrationCMX partnered with Vibenomics for in-store programmatic audio advertising. Vibenomics provides the technology enabling CMX to offer programmatic in-store audio across 6,900+ CVS stores with targeting capabilities including geotargeting and seasonal/dayparting. CMX is the first health & wellness RMN to offer programmatic in-store audio inventory.
• Connected TV Networks (Disney, Hulu, NBC Universal, Fox)minorChannel Partner/ Reseller/ DistributorCMX CTV inventory spans hundreds of OTT channels and apps including Disney, Hulu, NBC Universal, and Fox. CMX reaches 74M+ ExtraCare consumers across these CTV platforms with unskippable brand content on the biggest screen in the house.
• Interactive Advertising Bureau (IAB)coreStrategic or Co-development PartnerCMX partnered with IAB to develop and implement industry standards for retail media measurement, attribution, incrementality, and in-store measurement. CMX is the first health & wellness RMN to align its iROAS methodology with IAB standards. CMX also helped develop and was the first to align with IAB In-Store Retail Media Measurement Standards.
• Media Rating Council (MRC)coreStrategic or Co-development PartnerCMX works with MRC to ensure data practices and measurement standards are transparent and trustworthy. Partnership ensures CMX's measurement methodology meets industry standards for media rating and audit.

Scale indicators17 records

Recent moves3 records

Expansion highlights5 records

Direct peers

• Walmart Connect: Walmart's retail media network leveraging Walmart's first-party shopper data and ~4,600 US stores to serve brand advertisers across onsite, in-store, and offsite channels. Direct competitor to CMX for the same CPG, health, and beauty advertiser budgets with a much larger general merchandise audience.
• Target Roundel: Target's retail media network powered by first-party data from Target Circle loyalty members and Target's ~2,000 US stores. Direct competitor serving similar CPG and beauty advertisers with comparable omnichannel capabilities and clean room partnerships.
• Kroger Precision Marketing: Kroger's retail media network leveraging 60M+ households in its loyalty database and ~2,700 stores. Direct competitor for CPG advertiser spend, with strong measurement capabilities (Kroger's data clean rooms) and overlapping beauty/health category exposure.
• Albertsons Media Collective: Albertsons Companies' retail media network built on its 2,200+ store footprint and ~25M+ loyalty members. Direct competitor targeting CPG advertisers with similar clean room, programmatic, and in-store media offerings.
• Best Buy Ads: Best Buy's retail media network monetizing its customer base and stores for advertisers. While electronics-focused rather than health-focused, it's a comparable retailer-operated media network with similar omnichannel and closed-loop measurement capabilities.
• Macy's Media Network: Macy's retail media network leveraging Macy's beauty and apparel shopper data and ~500 stores. Comparable in-store media and digital ad offering with a strong beauty-adjacent audience that overlaps with CMX's ExtraCare beauty shopper base.

Broad incumbents

• Amazon Ads: Amazon's advertising business — the largest retail media network globally, spanning Sponsored Products, display, video, CTV (Twitch, Prime Video), and DSP. Competes with CMX for the same brand advertising budgets with vastly greater scale and category breadth; CMX differentiates on health-and-wellness specificity.

Emerging players

• Costco Media: Costco's emerging retail media network leveraging its high-spend member base and warehouse footprint. Less mature than CMX but rapidly building capabilities relevant to advertisers seeking bulk-shopper reach.

Others

• The Trade Desk: Independent DSP powering CMX Programmatic Self-Service and enabling clean room integrations. Not a direct competitor — Trade Desk is a technology partner and infrastructure layer for CMX's self-service offering, though it competes indirectly for advertiser attention and budgets in programmatic display/CTV.
• LiveRamp: Data collaboration platform enabling clean room integrations used by CMX (with Reddit, Hallmark, etc.) for closed-loop measurement. Adjacent ecosystem participant — not a competitor, but a critical infrastructure partner that powers CMX's measurement credibility.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cvsmediaexchange

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CVS Media Exchange