Understand how your CPM compares. Dive into benchmark data by industry, region, and campaign type
February 2025 - February 2026
Detailed observation of presented data
Venture Capital & Investment CPMs had a whipsaw year across all countries: a soft spring, a steady climb through late summer, and then a dramatic Q4 surge that left global benchmarks far behind. The industry’s cost per thousand impressions averaged $47.8 in 2025, more than double the global all‑industry baseline at $20.2, with volatility that was an order of magnitude higher. The standout story is December’s spike to $144.2—capping a run that more than quadrupled CPMs from January.
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 across all countries compared to the global benchmark.
Venture Capital & Investment CPMs opened at $34.0 in January and closed at $144.2 in December, a +324% leap. The annual range was wide—$16.1 at the April low to $144.2 in December—spanning $128 points. The annual median of monthly medians landed at $34.6.
Key moves shaped the narrative. After a February dip, March jumped to $63.0 (+159% month over month), only to collapse in April to $16.1 (−74% MoM), the year’s trough. From there, costs hovered in the high teens through July before momentum rebuilt: $35.2 in August, $46.4 in September, and $48.8 in October. The year climaxed with a Q4 surge—$105.4 in November (+116% vs. October) and the $144.2 December high (+37% vs. November).
Volatility was the defining feature. Average absolute month‑to‑month movement was roughly $21 CPM, far sharper than the global benchmark’s $1.2—indicating more abrupt swings for this industry than the broader market.
Seasonally, Q2 was the softest stretch (quarterly average $18.4), anchored by April’s trough. Q1 was mixed but elevated by March’s spike (Q1 average $40.5). Q3 marked a reset and rebuild (average $32.9), while Q4 was distinctly inflationary, averaging $99.5 and accelerating into year‑end. In contrast, the global all‑industry curve followed a familiar cadence: modest Q1–Q3 stability ($18.3 to $20.0) with a gentle Q4 lift to $23.0 and a December cool‑off.
Across all countries, Venture Capital & Investment CPMs ran at roughly 2.4x the global Facebook Ads benchmarks for 2025 ($47.8 vs. $20.2). The industry sat below the market only three times—April (−13% vs. global), June (−12%), and July (−13%). At its narrowest premium, May was just 9% above the global baseline. The gap widened markedly from late summer onward: August was +73%, September +133%, and October +125%. Q4 was the breaking point—November printed +318% above global, and December peaked at +554% (6.5x the all‑industry CPM).
Trend shape differed as much as level: the global line rose gradually through October and eased in December, while Venture Capital & Investment CPMs accelerated sharply from August and never looked back, with H2 averaging $66.2—more than double H1’s $29.4.
This CPM analysis offers clear Facebook Ads benchmarks for the Venture Capital & Investment industry across all countries: a volatile year, a Q2 trough, and a decisive Q4 surge far above the market. Understanding CPM trends and country‑specific ad costs in this sector helps teams benchmark industry ad performance against global patterns.
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:
Average cost per click benchmarks across industries
Cost per thousand impressions across different markets
Benchmark click-through rates for Facebook ads
Cost per lead across different markets
Average cost per purchase benchmarks across industries
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