What Are CPMs Doing Right Now?

I shared yesterday that increased holiday CPM is no longer automatic. Using Meta’s Average Price Per Ad as a guide, costs have been down year-over-year in every quarter of 2023. CPMs actually dropped last Q4.

But that’s all about what happened in the past. What’s happening right now?

I like to use the Within Marketing Pulse dashboard for this. Within curated CPM data from their partners, consisting of Fortune 100 companies.

According to their charts, CPMs were way down year-over-year during October.

Within Marketing Pulse CPM

But that does appear to be shifting in November. Within’s partners are now seeing between a 10 and 30% increase in CPM. Instagram tends to be up a little more than Facebook.

Of course, that’s just what Within’s partners are seeing. What you’re seeing might be different.

It will be interesting to see how this graph looks in the coming weeks, as well as Meta’s Q4 earnings.

Are CPMs finally going to be up during the holidays this year?