Facebook Ads CPM Benchmarks in Spain

Introduction

Spain’s Facebook Ads CPMs sat well below the global benchmark throughout the year, yet moved with sharper swings month to month. The median cost per thousand impressions in Spain averaged 5.67 during the Nov 2024–Oct 2025 window, compared with a 19.97 global average—roughly 72% lower. The story is one of low absolute costs with pronounced seasonality: a sharp December dip, a spring lift that peaked in May, a summer soft patch, and a modest rebuild into October. Volatility was a defining feature, with Spain’s typical month-to-month move of 2.13 points outpacing the global benchmark’s 1.27.

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 all industries in Spain compared to the global benchmark.

The story in the data

Spain entered the period at 7.04 in November 2024, slid to a yearly low of 2.89 in December, then rebounded to 6.87 in January 2025. After a February dip (3.98), CPMs climbed through March (5.03) and April (5.06) before surging to the annual high in May at 9.01. The back half of the year eased: June (5.98) and July (5.81) drifted lower, August softened further (4.25), and then CPMs recovered in September (5.23) and October (6.84). From start to finish, Spain ended nearly flat, down about 3% versus November.

Across the 12 months, Spain’s CPM ranged from 2.89 to 9.01 and averaged 5.67. The high-to-low spread (+212% from December to May) underscores the market’s amplitude. Volatility averaged 2.13 points per month, with the most dramatic moves around the holidays (−4.15 points into December) and the spring build (+3.95 into May).

Seasonal and monthly dynamics

The data reveal a distinct rhythm. Q4 2024 in Spain was atypically soft, with CPMs falling from November into a pronounced December trough, diverging from the common year-end inflation seen in many markets. Early Q1 saw a rebound, followed by steadying in March–April. The spring lift crystallized in May—the strongest month of the year—before costs cooled into early summer. August marked the seasonal low point of the second half, and CPMs rebuilt through September and October as demand returned.

This seasonal cadence differs from the global benchmark, where CPMs typically compress in January and gradually firm through the year, with renewed intensity as Q4 approaches.

Spain vs. global

Relative to the global benchmark, Spain remained “below market” across the period. The gap was widest in December 2024 (Spain at 2.89 versus 20.56 globally, 86% lower) and narrowest in May 2025 (9.01 versus 19.89, 55% lower). On average, Spain’s CPMs were about 72% below global levels.

Momentum also diverged. From January to October 2025, global CPMs climbed about 20% (17.87 to 21.43), while Spain’s were effectively flat (6.87 to 6.84). Volatility was higher in Spain both in absolute terms (2.13 vs. 1.27 points) and proportionally (about 37% of Spain’s average CPM vs. 6% globally), producing a choppier monthly journey despite consistently lower country-specific ad costs.

Closing

In short, Facebook Ads benchmarks for CPM show Spain’s all-industry market as low-cost but more variable, with a deep December trough, a May spike, summer softness, and a modest autumn rebuild—consistently tracking below the global CPM analysis. Understanding cost per thousand impressions trends for all industries in Spain helps teams frame industry ad performance and country-specific ad costs against the broader global baseline.