Marketers’ focus on social reach may be a reason social costs per thousand (CPMs) are rising. US CMPs for TikTok, Meta, Snapchatand YouTube all rose YoY in Q1 2024, and we project even more growth in 2025, per our Q3 2024 KPI forecast. CPM growth is particularly high on TikTok, despite slowing user growth, as advertisers continue to invest in video advertising on social media.
We forecast Meta’s Q1 2025 CPM will be $12.53, just above YouTube’s projected CPM of $12.44. TikTok and Snapchat will have lower CPMs, at $7.03 and $4.19, respectively.