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The cost per 1000 impressions (CPM) is a significant metric in online advertising as it helps businesses understand how much they are paying for their ads to be seen by a thousand people. It's a standard measure used to calculate the cost effectiveness and efficiency of an online advertising campaign. The higher the CPM, the more an advertiser is paying for each impression. This can be influenced by various factors such as the platform used, the target audience, and the quality of the ad. For instance, the CPM for Facebook ads has been increasing, indicating a rise in the cost of advertising on this platform.
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Since the pandemic accelerated online spending to $26.7 trillion in 2020, the average starting cost of 1000 impressions for a Facebook ad went up with it. For example, the average starting CPM in 2019 was around $5.12, but by May 2020, it had risen to $7.19. In October of 2021, Facebook's average CPM is $11. Now compare that to TikTok, which brings in $1.3 billion in annual ad sales. In 2020, Facebook generated around $84 billion. In fact, for every one dollar per user TikTok makes, Twitter makes five, YouTube makes seven, and Facebook and Instagram make nine.
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