Social Ad CPMs Forecast 2024

Rates Are Rising, With TikTok Leading the Pack

Report by Minda Smiley  | Nov 6, 2024
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Executive Summary
CPM rates are increasing on social platforms, signaling heightened competition
TikTok’s CPM rates are gaining ground on Meta’s
Social impressions growth has slowed, but it is still driven up by more ad inventory and increased usage
Meta commands the highest impressions and rates
Takeaways for advertisers
EMARKETER Interviews
Sources
Media Gallery
About This Report
After experiencing downturns in recent years, social CPMs are on the rise again in the US, per our forecasts. That’s a sign that brands could invest more in social media ads amid optimism about the economy.
Topics
Advertising Performance Metrics
Marketing Spending
Social Media Marketing
US
Table of Contents
Executive Summary
CPM rates are increasing on social platforms, signaling heightened competition
TikTok’s CPM rates are gaining ground on Meta’s
Social impressions growth has slowed, but it is still driven up by more ad inventory and increased usage
Meta commands the highest impressions and rates
Takeaways for advertisers
EMARKETER Interviews
Sources
Media Gallery

Social CPMs have increased YoY—as have impressions—according to our forecasts. That’s an indication that advertisers are competing for eyeballs across growing areas like social video and social commerce as the economic outlook improves.

Key Question: How are CPM rates trending across major social media platforms in the US?

Social CPMs Are on the Rise, With TikTok Leading the Pack (% change in US social and YouTube ad cost per thousand (CPM), Q1 2022-Q1 2025)
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Key Stat: CPMs at Meta, TikTok, Snapchat, and YouTube are all expected to increase in Q1 2025, with TikTok seeing double-digit (15.6%) growth YoY.

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    Table of Contents

    1. Executive Summary
    2. CPM rates are increasing on social platforms, signaling heightened competition
    3. TikTok’s CPM rates are gaining ground on Meta’s
    1. Social impressions growth has slowed, but it is still driven up by more ad inventory and increased usage
    2. Meta commands the highest impressions and rates
    3. Takeaways for advertisers
    1. EMARKETER Interviews
    2. Sources
    3. Media Gallery

    Charts in This Report

    Social CPMs Are on the Rise, With TikTok Leading the Pack (% change in US social and YouTube ad cost per thousand (CPM), Q1 2022-Q1 2025)TikTok Is Seeing the Largest Quarter-to-Quarter Price Fluctuations (% change in US social ad and YouTube ad cost per thousand (CPM), Q1 2024-Q1 2025)
    The Gap in CPMs Across Major Social Platforms Only Slightly Narrowing Year Over Year (US social and YouTube ad cost per thousand (CPM), Q1 2024-Q1 2025)The Gap Between Meta and TikTok CPMs Is Narrowing (US social ad cost per thousand (CPM), Q1 2022-Q1 2025)
    Growth Has Slowed, But Social Impressions Continue to Trend Upward (% change in US total ad impressions, Q1 2022-Q1 2025)Meta Impressions Far Exceed TikTok and Snapchat (billions in total US social ad impressions, Q4 2024)

    Interviewed for This Report

    Katya Constantine
    DigishopGirl Media
    CEO
    Interviewed October 10, 2024
    Danielle Schultz
    PMG
    Paid Social Director
    Interviewed October 10, 2024
    Carrie Tropeano
    Mekanism
    Chief Media Officer
    Interviewed October 15, 2024

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    authors

    Minda Smiley

    Contributors

    Rahul Chadha
    Director, Report Editing
    Vladimir de Leon
    Chart Editor
    Jasmine Enberg
    Vice President and Principal Analyst
    Donte Gibson
    Senior Charts Editor
    Chuck Rawlings
    Senior Researcher
    Sakina Thanawala
    Copy Editor
    Emman Velasco
    Chart Editor
    Paul Verna
    VP, Content