Calculate the CPM

Instagram CPM Calculator

Discover what you're really paying for visibility on Instagram. Use this calculator to evaluate your cost per 1,000 impressions across Feed posts, Stories, Reels, and Explore — and see how your campaigns stack up against Instagram's $8–$14 average CPM.

Campaign 1
Campaign 2

Campaign Comparison

Campaign 1 CPM—
Campaign 2 CPM—
Verdict—

What Is Instagram CPM?

Instagram CPM measures the Cost Per 1,000 Impressions for ads delivered on Instagram's various surfaces — including the main Feed, Stories, Reels, and the Explore tab. It's managed through Meta Ads Manager alongside Facebook placements.

Knowing your Instagram CPM matters because the platform's visually-driven audience commands premium ad rates compared to many other social channels. With 2 billion monthly active users and higher engagement rates than Facebook, Instagram often delivers stronger brand recall per impression.

Marketers track Instagram CPM to optimize creative spend across placements — Reels ads average $4–$8 CPM while Feed placements run $10–$14 CPM — and to justify Instagram budgets versus alternative channels like TikTok or Pinterest.

IG Ad Budget Instagram campaign spend
IG Impressions Feed, Stories & Reels views
Instagram CPM Cost per 1K impressions

Instagram CPM Formula

Calculate your Instagram CPM by dividing your total Instagram ad spend by the number of impressions your ads received, then multiplying by 1,000. You can find both figures in the Meta Ads Manager filtered to Instagram-only placements.

Instagram CPM = (Instagram Ad Spend ÷ Instagram Impressions) × 1,000

Instagram CPM Playground

$500
$10 $10,000
100,000
1K 1M
Instagram CPM $5.00 per 1,000 impressions

$500 ÷ 100,000 = 0.005 × 1,000 = $5.00

How to Calculate Instagram CPM – Step by Step

Follow this process to measure your Instagram advertising efficiency using real campaign data from Meta Ads Manager.

1

Filter for Instagram Placements

In Meta Ads Manager, use the Breakdown menu to filter results by Placement and isolate Instagram-specific data from your cross-platform campaigns.

Example

You ran a fashion e-commerce campaign across Instagram Feed and Stories for 21 days.

2

Identify Instagram-Only Spend

After filtering by placement, record the spend attributed specifically to Instagram surfaces — Feed, Stories, Reels, and Explore.

Example

Instagram placements accounted for $3,800 of your total cross-platform budget.

3

Collect Instagram Impressions

Note the total impressions delivered specifically on Instagram placements, excluding any Facebook or Audience Network impressions.

Example

Your Instagram ads delivered 340,000 impressions — 180K from Feed and 160K from Stories.

4

Compute Your Instagram CPM

Divide Instagram spend by Instagram impressions and multiply by 1,000 to get your platform-specific CPM.

Example

$3,800 ÷ 340,000 × 1,000 = $11.18 CPM — within the typical Instagram range of $8–$14.

Frequently Asked Questions

What is the average Instagram CPM?
Instagram CPMs average $8–$14 across all placements. Feed ads tend to be the most expensive at $10–$14, Stories fall in the $6–$10 range, while Reels placements offer the best value at $4–$8 CPM due to Meta pushing short-form video adoption.
Why is Instagram CPM higher than Facebook?
Instagram typically has 20–40% higher CPMs than Facebook because of its younger, more engaged audience demographic. Brands are willing to pay premium rates for Instagram's visually immersive environment, which drives higher engagement and brand recall.
Do Instagram Reels ads have lower CPMs?
Yes, Instagram Reels ads currently offer the lowest CPMs on the platform, averaging $4–$8. Meta is actively incentivizing advertisers to use Reels by offering favorable pricing, making it an excellent placement for maximizing reach on a budget.
How does audience targeting affect Instagram CPM?
Narrow targeting significantly increases Instagram CPM. A broad audience (ages 18–65, nationwide) might yield $6 CPM, while a highly targeted audience (ages 25–34, specific interests, metro areas) can push CPMs to $15–$20 or higher due to increased auction competition.
Is Instagram CPM different for B2B versus B2C?
B2B advertisers on Instagram typically face higher CPMs ($12–$20) compared to B2C brands ($7–$12) because professional audiences are smaller and more competitive. However, Instagram's visual format can deliver strong results for B2B brands in design, architecture, and lifestyle industries.
When is the cheapest time to run Instagram ads?
Instagram CPMs are lowest in January through March (Q1) when advertiser competition drops after the holiday season. Weekday mornings (6–9 AM) also tend to have lower CPMs than evening and weekend slots when user engagement peaks.

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