Understand how your CPM compares. Dive into benchmark data by industry, region, and campaign type
August 2025 - August 2026
Detailed observation of presented data
The headline: Venture Capital & Investment CPMs ran noticeably below the global benchmark for most of the period, but with an extreme October spike that briefly reversed the gap. This analysis is based on $3B worth of advertising data from our dataset, which provides strong directional benchmarks. This analysis explores ad performance trends for Venture Capital & Investment in All countries compared to the global benchmark.
Across the 13‑month baseline (July 2025–July 2026) the global median cost‑per‑thousand‑impressions (CPM) averaged about $20.6, peaking near $24.3 in November 2025 and bottoming at roughly $16.5 in July 2026. By contrast, the Venture Capital & Investment series (All countries) showed a much lower overall average — about $11.5 CPM — but with pronounced spikes and troughs. The selected series started at $8.46 in August 2025, surged to a high of $35.93 in October 2025, then collapsed to $3.94 in January 2026 and remained low through spring (April $4.45; May $4.78). From the initial August point to the final May point the series fell roughly 44% (8.46 → 4.78), while the global baseline moved in a narrower band and declined modestly from mid‑period highs.
Volatility was a defining feature: the Venture Capital & Investment CPMs spanned about $32 between the high and low, with a standard deviation near $12.3 — more than the series’ mean — signaling extreme month‑to‑month swings. Most months (four of five reported) the industry ran 75–81% below the global CPM; October 2025 was the clear outlier, when industry CPM ran roughly 79% above the global level.
The baseline shows a typical rhythm: a pickup toward late Q4 (November’s $24.3) and a softening into mid‑year (lowest in July 2026). The Venture Capital & Investment series did not mirror that steady seasonality — instead it displayed episodic momentum. A sharp lift in October 2025 created a brief, anomalous peak; that lift was followed by a steep decline into Q1 2026 and a muted spring. In short, the industry’s cadence was punctuated by a single, sharp spike and then a protracted low plateau rather than gradual seasonal rises and falls.
Viewed relative to the global benchmark, Venture Capital & Investment CPMs were generally below average. On the five overlapping months: August 2025’s $8.46 vs. global $19.27 (~56% below), January 2026’s $3.94 vs. $18.81 (~79% below), April 2026’s $4.45 vs. $23.65 (~81% below), and May 2026’s $4.78 vs. $22.76 (~79% below). October 2025 stands apart: $35.93 vs. $20.10 (about 79% above global). Overall the industry trailed the global CPM by roughly 44% on average, but with much greater month‑to‑month variability and a single strong outlier month where it ran above market.
Understanding Facebook Ads CPM analysis for Venture Capital & Investment across All countries frames how industry ad costs moved versus broader market CPM trends and offers a clear view of volatility in country‑specific ad costs and industry ad performance.
Insights & analysis of Facebook advertising costs
Cost Per Mille (CPM) is the cost advertisers pay for 1,000 impressions of their Facebook ad. In the Venture Capital & Investment industry, Facebook ad costs can be influenced by seasonal trends and market competition. Geographic targeting affects ad costs based on market competition and user engagement in different regions. Different campaign objectives lead to varying costs based on how Facebook optimizes for your specific goals. The data shown represents median values across multiple campaigns, and individual results may vary based on ad quality, audience targeting, and campaign optimization.
We use the median CTR because the underlying distribution of click-through rates is highly skewed, with a small share of campaigns achieving extremely high CTRs. These outliers can inflate a simple average, making it less representative of what most advertisers actually experience. By using the median—which sits at the midpoint of all campaigns—we provide a more rigorous and realistic benchmark that reflects the true underlying data model and helps you set attainable performance expectations.
Note: This data represents industry median values and benchmarks. Your actual costs may vary based on specific targeting, ad creative quality, and campaign optimization.
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All data is sourced from over $3B in Facebook ad spend, collected across thousands of ad accounts that use Superads daily to analyze and improve their campaigns. Every data point is fully anonymized and aggregated—no individual advertiser is ever exposed.
This dataset updates frequently as new ad data flows in. It will only get bigger and better.
CPMs are heavily influenced by competition, seasonality (e.g., Q4 costs more), audience size, and ad quality. Smaller audiences and lower relevance scores often lead to higher CPMs.
Different campaign objectives, bidding strategies, and even time of day can change your CPM. For example, conversion campaigns usually have higher CPMs than traffic ones. Also, broad targeting tends to drive lower CPMs.
In most industries, CPMs range from $5 to $18 depending on the region and objective. Retail and e-comm campaigns often sit at the higher end. Our live data above shows a breakdown by country and industry.
Both matter, but audience quality (intent + match with your offer) usually has more impact than pure size. However, extremely tight audiences often lead to expensive CPMs due to limited delivery opportunities.
Depends on your goal. For awareness, CPM is more relevant. For performance campaigns, CPC and CPA matter more. But all are connected—inefficient CPMs can inflate your entire funnel.
Discover detailed cost benchmarks for different Facebook advertising metrics:
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