Ad costs for Memorial Day weekend across Facebook and Instagram dip YOY
The cost of running ads across Facebook and Instagram over Memorial Day weekend dipped by 6 percent globally and 12 percent in the United States from 2021 to 2022, according to a tracker created by Gupta Media.
CPMs (cost per 1,000 impressions) across Facebook feed, Instagram and Instagram stories averaged $4.48 for the three-day holiday weekend in 2022, compared with a three-day average of $5.17 in 2021. In the United States, CPMs dropped from $7.91 to $6.99.
According to the Gupta Media data, costs to advertise across Instagram feeds saw the largest year-over-year decline in cost, dropping by nearly 19 percent globally.
It's too early to tell how the drops in CPMs impacted holiday weekend spend and campaign performance, and in light of a down economy, what it will mean for the upcoming holiday shopping push in Qs 2 and 3.