What's Happening with Facebook CPMs?

Tracking Meta’s CPM is essential to refine ad spend and maximize ROI. This article dives into the latest trends, benchmarks, and key factors driving CPM rates on Meta's platforms, equipping you with the insights needed to navigate shifts and optimize ad performance. These shifts happen often, so arming yourself with regular data will ensure you're always aware of what's happening in Meta's landscape.

To help shed light on industry-wide trends, we have partnered with Varos to dig into and analyze advertising data across industries and verticals. Our goal is to help advertisers understand whether the price increases they're seeing are specific to their account, or a result of Meta-wide trends. 

MONTHLY CPM TRENDS

Data as of Oct 2, 2024; Includes advertisers spending at least $1K+/month; Source: Varos

YTD (through Q3) CPMs are up 9% YoY, however that’s largely driven by Q3. CPMs in Q3 are up 12% YoY, while the first half of 2024 only saw a 7% increase in CPMs YoY. 

The CPM increases are likely driven by the increase in spending towards election related content. While the month is not complete, October is showing signs of having the highest CPM jump of the year, further validating that election spending is likely driving the increases. With the election ending in early November, holiday advertising will ramp up, so expect to see sustained increases in CPMs through the remainder of the shopping season.

If you're interested in chatting about Facebook ad performance or channel diversification, reach out to us. We'd love to discuss your growth strategy, no strings attached.

Varos offers real-time benchmarks for digital marketing and revenue metrics (CAC, retention, CPM, CTR, Conversion Rate, etc.) compared to similar companies. We're a data co-op that has 6,000+ companies sharing data with us ($4bn annual ad spend tracked).