Meta Ad Prices Fell for Seven Quarters Then Rose for Eleven, Earnings Data Shows
An analysis of Meta's quarterly earnings releases from Q4 2021 to Q2 2026 tracks year-over-year changes in average ad prices and impression volumes across Facebook, Instagram, Messenger, and WhatsApp. Ad prices declined every quarter from Q1 2022 through Q3 2023, hitting a low of minus 22% in Q4 2022, before recovering and rising consistently from Q4 2023 onward. By Q1 and Q2 2026, average price per ad was up 12% year over year, while ad impressions also grew in all 19 quarters without exception. Regional data available from Q1 2023 shows Asia-Pacific consistently recorded the fastest impression growth but the weakest price growth, while the US & Canada and Rest of World led on price gains in Q2 2026. Meta does not publish absolute CPM figures; these percentages, drawn directly from its investor relations materials, represent company-wide averages across all ad formats and objectives.
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