The Speed Read

• Google CPMs saw a 70% increase in Q4 vs Q1, hitting $26.35 in October

• TikTok maintained the lowest CPMs across platforms, averaging $6.58 throughout 2024

• Meta showed strong seasonal patterns with peaks in April-May ($18-19)

• Pinterest emerged as the most stable platform, fluctuating between $7-11 all year

This Week’s Analysis

The Platform CPM Landscape: 2024 in Review

What actually happened to your ad costs this year

If you felt like your ad spend wasn’t stretching as far in 2024, the data backs you up. Our analysis of cross-platform CPMs reveals some clear winners and challenges for DTC brands. Let’s break down where the opportunities lie.

By the Numbers

• Q4 average CPMs: Google ($24), LinkedIn ($7.84), TikTok ($8.71), Meta ($13.71), Pinterest ($9.61)

• TikTok maintained 63% lower CPMs than Google throughout the year

• Meta’s CPMs were most volatile in Q2, ranging from $17.96 to $19.41

• Pinterest showed the most consistent performance with only 33% variation all year

The Google Conundrum

Google’s CPMs showed the most dramatic increases, particularly in Q4. October hit an all-time high of $26.35 – a stark contrast to January’s $15.50. This surge signals a critical need for brands to diversify their upper-funnel strategy beyond traditional search.

TikTok’s Efficiency Play

While other platforms saw significant fluctuations, TikTok maintained remarkably stable and low CPMs throughout 2024. The platform averaged $6.58 CPMs, making it the most cost-effective option for reach. However, this efficiency comes with a caveat: brands need strong creative strategies to stand out in an increasingly crowded feed.

Meta’s Seasonal Story

Meta’s CPM pattern reveals clear seasonal opportunities. The platform showed predictable spikes during key shopping periods but maintained more reasonable rates during summer months. Smart brands are already planning to capitalize on these patterns in 2025.

Quick Takes: Platform Updates That Matter

Pinterest’s Steady Rise

• What happened: Most stable CPMs across all platforms

• Why it matters: Ideal for long-term planning and consistent ROAS

• What to watch: New shopping features could impact 2025 rates

LinkedIn’s Volatility

• What changed: Dramatic swings from $2.63 to $20.57

• Early results: B2B brands seeing better ROI in targeted periods

• The catch: Timing is everything for campaign launches

Last Word

“2024’s CPM trends point to a clear reality: platform diversification isn’t just about risk management anymore – it’s about finding genuine efficiency in an increasingly expensive ad landscape.”