Retail media is no longer a niche marketing tool. These days, it has become a defining feature of modern retail environments, ushering in a new era where physical space and digital reach operate hand in hand. With Westfield Rise launching its global retail media platform, complete with hundreds of digital screens across flagship malls, Simon Media & Experiences expanding nationwide, Cineplex creating and selling advertising on digital screens in various high-traffic locations across Canada, and the retail media network owned by the Co-op Group in the UK, major landlords are now functioning as both property operators and media companies. Their centers are effectively becoming full-scale media networks, capable of delivering targeted content, sponsorships, programmatic advertising, and immersive shopper engagement.
For tenants, this evolution has profound implications. Digital screens, interactive displays, and AI-enhanced content strategies increasingly shape customer impressions before a shopper even steps inside a store. Yet in many organizations, the people who control the media infrastructure and the people who negotiate leases operate in separate silos. The leasing team handles square footage and rent; the media team owns screen locations, ad inventory, data collection tools, and content policies.
This divide can be confusing, but it can also be a source of significant opportunity for tenants who understand how to navigate it.
From Challenge to Opportunity
This separation between leasing and media operations may initially seem like a challenge, but savvy tenants—guided by experienced brokers and counsel—are increasingly recognizing it as an opportunity. When engaged early, a landlord’s media team brings powerful capabilities to the table: brand storytelling, digital visibility, property-wide amplification, and integrated campaigns that extend far beyond the storefront itself.
By approaching retail media proactively rather than reactively, tenants can secure visibility, protect their brand, and capitalize on the growing sophistication of property-wide media networks. What first appears to be a point of friction often becomes a meaningful advantage when the conversation begins early and the tenant’s strategy is integrated into both leasing and media planning.
Early engagement also prevents tenants from being blindsided later. Without proactive negotiation, tenants may find their beautiful new storefront framed by competing ads or incongruent content—an outcome that is both jarring and avoidable.
For landlords, early coordination between leasing and media divisions enhances the guest experience, drives higher media performance, and minimizes friction in lease negotiations. In other words, collaboration turns retail media into a strategic asset for both sides. At the same time, today’s consumers increasingly crave real-world engagement: authentic, tactile experiences that break through digital fatigue. The rapid rise of in-store cafés and hospitality-style lounges illustrates this shift, offering moments of conversation, comfort, and even curated sensory experiences that draw people deeper into the physical environment.
Why Retail Media Is Surging Now
For years, retail media was synonymous with e-commerce and big-box operators who mastered data-driven advertising at scale. But destination retail centers—malls, lifestyle centers, entertainment districts—are now positioned to dominate the next chapter.
A confluence of forces explains why:
Post-pandemic consumer behavior—IRL!. After years online, shoppers are gravitating toward experiences that happen in real life. AI-powered marketing. Brands need environments where digital and physical touchpoints reinforce one another.
High-traffic destinations. Major malls already function as gathering spaces; retail media simply unlocks their value as communication platforms.
The rise of experiential retail. Consumers increasingly expect more than a transactional visit. Coffee bars (as referenced above), children’s play zones, immersive activations, and new concepts like Simon’s planned “Netflix Houses” underscore this shift. These venues blend entertainment and retail through mini-golf, VR experiences, themed dining, and branded event spaces—driving foot traffic while deepening emotional connection to the property.
Westfield Rise, Simon Media, and Brookfield Malls exemplify the shift. Their networks transform static common areas into dynamic, data-rich environments—modern media channels that complement traditional retail leasing.
Why Media Rights Now Belong in the LOI
Historically, media rights were an afterthought, often addressed only after the lease was drafted. That approach is no longer viable.
By the time a lease reaches a tenant’s inbox, a landlord’s media policies are usually fixed, screen placements are installed, and category restrictions may already be in effect. Without addressing these issues earlier, tenants may lose key protections or opportunities.
For this reason, the Letter of Intent (LOI) has become the critical stage for shaping media-related terms. Addressing these points upfront preserves leverage and ensures that the physical premises and surrounding digital environment support the tenant’s brand.
Key areas to negotiate at the LOI stage include:
Control of Nearby Screens: The screens immediately adjacent to a tenant’s premises can significantly influence brand perception. LOIs should clarify:
- Who controls those screens
- Whether the tenant has the right to display its own content
- Whether competitor ads can be blocked
- Whether the tenant has approval or veto rights
Digital adjacency is the new storefront visibility; tenants should treat it with equal seriousness.
Content Standards and Category Restrictions. Without negotiated parameters, a tenant may be surprised to find its storefront next to visuals that clash with its brand identity or customer experience. The LOI should establish baseline content policies to prevent undesirable or conflicting placements.
Participation in—or Exclusion From—the Media Network. Some brands want guaranteed exposure within a property’s media program, while others prefer to stay out of the network altogether to avoid mixed messaging or brand dilution. The LOI should make this preference unmistakably clear, specifying whether the tenant intends to be included or to opt out, whether any fees apply to participation, and what opportunities may exist for seasonal placements or co-branded campaigns. Addressing these points upfront ensures the media strategy aligns with the tenant’s broader marketing objectives and avoids surprises once the lease is drafted.
Future-Proofing Technology Rights. Retail technology evolves at a rapid pace, and today’s state-of-the-art display can become outdated surprisingly quickly. To stay competitive, tenants should ensure the LOI preserves enough flexibility to upgrade their digital installations as needed, integrate emerging technologies into the store environment, and avoid repetitive or burdensome approval processes that slow innovation. Thoughtful future-proofing prevents operational bottlenecks and allows tenants to keep pace with technological advancements throughout the life of the lease.
Data, Privacy, and Cybersecurity Considerations. Modern retail media networks often collect analytics through Wi-Fi tracking, cameras, sensors, or other tools. Tenants must understand:
- What data is gathered
- How it is used and who it is shared with
- Consumer disclosure obligations
- Cybersecurity safeguards
- Liability allocations under privacy laws
Given the pace of regulatory change, proactive clarity here is essential.
A Summary Media Rights Exhibit: A concise media exhibit attached to the LOI—covering screen control, tenant visibility rights, content standards, and data responsibilities—creates alignment early and prevents disputes during lease negotiation.
The Broker’s Evolving Role Brokers increasingly serve as the essential bridge between a landlord’s leasing machinery and its media operations. As retail media becomes more integrated into the tenant experience, the most effective brokers are those who can spot—often before anyone else—whether a property operates a media network and how that network may affect visibility, brand adjacency, and overall tenant strategy. They know to ask for media maps, screen locations, and content policies early, and they understand how these details can influence everything from customer flow to competitive positioning.
This deeper literacy allows brokers to anticipate issues such as competitor ads appearing near a tenant’s storefront or missed opportunities for brand amplification. It also enables them to weave media considerations directly into the LOI, ensuring the document reflects not only the physical terms of occupancy but also the digital context that surrounds the premises.
In this way, the broker becomes more than a dealmaker—they become the quarterback of media negotiations, shaping outcomes that can materially enhance a tenant’s visibility and success within the center.
A Note for Landlords
Landlords and their media affiliates gain when they coordinate early and offer tenants a cohesive understanding of the property’s media infrastructure. Transparency builds trust, improves media monetization, and strengthens the broader tenant ecosystem. As media networks grow more sophisticated, consistency between leasing and media operations will become a defining competitive advantage.
Conclusion: Leasing in the Age of Screens
Retail leasing today includes two parallel environments: the physical space a tenant occupies and the digital landscape that surrounds it. As media networks like Westfield Rise and Simon Media continue their rapid expansion, the screens next to a store may influence customer behavior as strongly as the store design itself. For tenants, the takeaway is simple: media rights are now a fundamental part of real estate strategy. Addressing them early—especially at the LOI stage—ensures control, visibility, and brand protection in an increasingly digital retail world.
Handled thoughtfully, retail media enhances storytelling, elevates customer experience, and differentiates brands in ways that traditional leasing alone cannot. In today’s environment, success depends not just on the space you lease, but on the screens that frame it.
This blog post is not offered, and should not be relied on, as legal advice. You should consult an attorney for advice in specific situations.