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Research Outline

Prepared for Jeffrey N. | Delivered October 18, 2019

Average CPM

Goals

To understand the average CPMs across different types of media (such as niche print publications, websites, apps, and out of home ads in general) — ideally, comps for high-value, high-impact types of media that have $20 to $100 CPMs.

Early Findings

  • According to Chron, average CPMs range "from $2.80 with Google to more than $34 for a local TV spot in Los Angeles."
  • The average CPM on Facebook is $10.00 to $11.20 across all industries, based on various sources from the past year.
  • The average CPM on Instagram is $5.00 to $10.00, based on various sources from the past year.
  • Average Facebook CPMs by industry, as of 2016 data cited in a 2019 article, are CPG ($5.40), e-commerce ($6.27), gaming ($3.09), retail ($6.33), and travel ($7.94).
  • Average Facebook CPMs by ad format, as of 2017 data cited in a 2019 article, are Instagram ($6.75), video ads ($6.29), mobile ads ($5.70), app install ($5.13), carousel ads ($4.42), and dynamic products ads ($3.66).
  • A 2018 Q4 report by HubSpot offers CPM figures for all the primary social media and search engines, showing a wide variety of average CPMs, based on the quarter of the year.
  • According to Statista, the average upfront CPM for national broadcast TV in the US is $36.19.
  • According to a 2019 eMarketer article, average CPMs for "in-stream ads on connected TV ranged from $19.84 to $28.33 during the timeframe of Q4 2017 to Q4 2018."
  • A 2019 Media Post article states that the average CPM for Hulu's streaming service has declined from $29.40 to $25.00.
  • In 2016, the Wall Street Journal stated that newspaper advertising was on the decline and that the average CPM "for a full-page ad in a national newspaper is roughly $100. Meanwhile, the average CPM for a broadcast TV ad in prime time that reaches 25- to 54-year-olds is roughly $37, according to several ad buyers."
  • A 2018 article compares the CPMs for various media channels, including TV (23.70), magazine ($21.46), newspaper ($19.70), radio ($7.75), outdoor ($3.56), vehicle wraps ($0.77), and fleet graphics ($0.48).
  • A 2019 article on advertising costs offers a comparison of cost per click (CPC) for various industries. While not specific to CPMs, it may offer insights into how various industries compare in terms of online advertising costs. For instance, the legal sector has the highest CPC for Google AdWords, via search, at $5.88.