In the company's latest earnings statement, TripAdvisor called its opportunity in media advertising "huge." In the second quarter, its branded display and platform revenue increased 5%, but the company said its growth potential in that space is larger.

TripAdvisor pointed to several trends in its favor: Media dollars are increasingly moving to digital spaces instead of to print; advertisers are looking for platforms outside of Google and Facebook, especially in attractive areas like retail, technology, music, and travel; and TripAdvisor offers a "high-intent, global travel audience, enabling [advertisers] to target and optimize campaigns and improve ad performance."