The interactive title, Beyond Travel, will target two million Air Miles customers, three times a year, with destination guides and travel features.
Rare Content, the relaunched customer publishing company previously known as AMD Brass Tacks, won the contract to publish the title.
Beyond Travel's first issue will reach one million customers on 26 December as part of a package that also includes a 16-page glossy magazine. Air Miles hopes to distribute subsequent issues to its entire customer base.
Its launch will coincide with above-the-line work from Grey London, and direct marketing from Joshua.
Rare has developed a CD- Rom that uses full video and audio to bring travel alive to customers. It creates scenes such as whale-watching at Cape Cod or chanting at an Italian football stadium.
The CD launch will back Air Miles' recent repositioning as a full-service travel company offering flights, car hire and ready-made holidays.
Drew Thomson, the managing director of Air Miles, said: "Beyond Travel offers customers a different and exciting perspective on travel, and reflects our own philosophy that travel should be less about the transactional process and more about the experiential."
Matthew Cowen, Rare's editor-in-chief, said: "Air Miles' customers are in for a treat. The medium allows us to produce the most emotionally engaging and inspiring travel content outside of an Imax theatre."
It contains a detailed destination guide that allows users, for instance, to view a commentary on Cape Town while listening to local music.