Pinterest Ads CPM in the United States

This page tracks average Pinterest Ads CPM in the United States. It is updated quarterly, with the latest period shown first and previous observations retained below for quarter-over-quarter comparison. Benchmarks are grouped by campaign objective because the objective determines how Pinterest bids in the auction and which ad formats are available.

Pinterest should be evaluated separately from conventional social feeds. Users arrive with a specific search or planning intent, and up to 97% of the platform's top searches are unbranded. Its core audience is concentrated in the 25–54 age range and often plans purchases well before the transaction. The auction is also less saturated than larger channels, which generally keeps impression costs lower under comparable targeting conditions. These characteristics directly affect CPM and how the benchmarks below should be interpreted.

Pinterest Ads CPM Benchmarks in the United States for Q2 2026

Two groups of factors shaped Pinterest CPM in the second quarter of 2026. The first was seasonal. Advertiser demand generally falls after the year-end peak, reducing auction pressure and lowering the price of impressions during the first half of the year. The second was structural. Continued audience growth, including expansion among male users, increased the amount of available inventory while commercial intent remained strong. As a result, Pinterest continued to offer some of the lowest upper-funnel CPM levels among major advertising platforms.

Pinterest CPM is not a single platform-wide figure. It is a range that varies substantially by campaign objective. Upper-funnel objectives such as Brand Awareness and Video Views optimize for delivery and completed views, which keeps impression costs relatively low and predictable. Lower-funnel objectives such as Conversions and Catalog Sales optimize for actions and purchases. The algorithm deliberately accepts a higher impression cost to reach users with a stronger estimated probability of converting. CPM should therefore be compared within the same objective rather than across unrelated objectives.

The table below summarizes five Pinterest campaign objectives. Blank cells indicate that we did not find a range confirmed by at least two independent sources and chose not to replace the missing observation with an unsupported estimate.

Average CPM by Campaign Objective in Q2 2026

The bidding model also changes by objective and determines whether CPM is controlled directly or becomes a derived metric:

• Brand Awareness uses direct CPM bidding or automated Performance+ delivery. This is the objective where advertisers have the clearest control over impression cost.
• Video Views optimizes toward 95% completed views. Custom CPM bidding is unavailable, so CPM is derived from completed-view cost under Performance+.
• Consideration uses CPC bidding for Pin clicks or outbound clicks. CPM is calculated from click cost and click-through rate.
• Conversions and Catalog Sales use target CPA bidding. CPM is set indirectly by the algorithm as it searches for users with a higher estimated probability of taking action.

Brand Awareness CPM Benchmarks in Q2 2026

When the objective is broad reach at a frequency sufficient to build brand recall, the primary delivery metric is impression cost. Brand Awareness is the only Pinterest objective where advertisers can set a maximum CPM directly, which makes delivery comparatively predictable. It is also the lowest-CPM campaign type on the platform.

• Minimum: $2–3
• Lower Average: $3–4
• Average: $3.5–6
• Upper Average: $6–9
• Maximum: $9+

What Determines Brand Awareness CPM

Audience breadth. Narrow, highly specific segments generate higher CPM because the algorithm competes for limited inventory. Broad interest targeting or broader keyword themes usually keep impression cost closer to the lower end of the range.

Placement. Home feed, search results, and related Pin placements are priced differently. Search inventory is generally more expensive because it reaches users with stronger expressed intent, but the resulting exposure may also be more commercially valuable.

Frequency. Strict limits on the number of impressions per user can raise CPM. To maintain a narrow frequency range within a limited audience, the algorithm may need to buy more expensive impressions. Frequency should therefore be selected deliberately because it affects both cost and the likelihood that an impression contributes to brand recall.

Season and industry. CPM is generally lower in the first half of the year than in Q4. Categories with substantial relevant inventory, including fashion, home decor, and beauty, can often build reach more efficiently than narrow B2B categories with fewer qualified users on the platform.

Video Views CPM Benchmarks in Q2 2026

Video Views optimizes toward a completed view, defined here as reaching 95% of the video. Custom CPM bidding is not available for this objective; Performance+ controls bidding. CPM is therefore calculated rather than set directly. Advertisers pay for completed views, and the cost per thousand impressions is derived from the resulting delivery.

• Minimum: $2–4
• Lower Average: $4–6
• Average: $6–9
• Upper Average: $9–13
• Maximum: $13+

What Determines Video Views CPM

The main lever is the video itself, particularly its ability to hold attention during the opening seconds and carry the viewer to the 95% completion point. A higher completion rate lowers the effective impression cost because the algorithm is more willing to distribute a video that users continue watching.

Length and format. Short vertical videos are more likely to reach the 95% completion threshold than longer horizontal assets. Higher completion rates reduce completed-view cost and can pull calculated CPM downward.

Audience and placement. Broad, relevant targeting is generally less expensive than narrow targeting. Search and highly intentional placements may cost more, while broad feed delivery usually supports lower CPM.

Performance+ learning data. Because custom CPM bidding is unavailable, campaign stability depends on the algorithm. Performance+ becomes more consistent as the campaign accumulates view history. During the launch phase, with little or no history, CPM tends to be higher and more volatile.

Consideration CPM Benchmarks in Q2 2026

Consideration campaigns optimize for Pin clicks and outbound website clicks. Bidding is based on CPC, so CPM is not set directly. Instead, it is determined by click cost and the ad's click-through rate. A strong Pin with a high CTR can therefore generate both an efficient CPC and a reasonable CPM, while weak creative can raise both metrics at the same time.

• Lower Average: $4–6
• Average: $6–10
• Upper Average: $10–15

The extreme minimum and maximum ranges remain blank because we did not find enough public data confirmed by at least two independent sources.

What Determines Consideration CPM

The primary factor is Pin quality and relevance to the search query. Pinterest functions as a visual search platform, so the relationship between keyword, Pin, and landing page works much like quality signals in paid search. Greater relevance usually improves click efficiency and lowers the effective impression cost.

Click-through rate. Because CPM is derived from CPC and CTR, stronger click-through performance improves the value produced by each thousand impressions. A visual that earns clicks in both search and feed placements can reduce click cost and improve impression economics simultaneously.

Targeting. Keyword and interest precision determine how often the Pin reaches a relevant user. Targeting that is too broad can generate inexpensive but low-quality clicks. Targeting that is too narrow can raise costs and restrict delivery. Landing-page quality also matters because weak post-click engagement reduces the value of the traffic and can limit efficient delivery.

Conversions CPM Benchmarks in Q2 2026

Conversions campaigns optimize toward actions on the website, including purchases, registrations, and add-to-cart events. Bidding is based on a target CPA, which makes CPM a derived metric. The algorithm accepts a higher impression cost when it estimates that a user is more likely to complete the selected action. Reliable optimization requires a correctly implemented Pinterest tag and sufficient conversion history.

• Minimum: $5–8
• Lower Average: $8–11
• Average: $11–18
• Upper Average: $18–26
• Maximum: $26+

What Determines Conversions CPM

Conversion volume. Without sufficient historical actions, the algorithm has limited information for optimization. New accounts commonly pay more during the learning phase because the system must test a broader range of users.

Pinterest tag quality. Missing, duplicated, or incorrectly configured events distort optimization. When low-value actions are recorded as conversions, the algorithm learns from the wrong signal and directs spend toward less valuable audiences.

Attribution window. Products with longer consideration cycles, including furniture, travel, and higher-priced electronics, require enough time to capture delayed conversions. Shorter windows are more appropriate for impulse categories such as fashion and beauty.

Bidding mode. Performance+ can lower CPA and stabilize CPM once the account has enough conversion history. During the initial learning period, both delivery and impression cost fluctuate more widely.

Catalog Sales CPM Benchmarks in Q2 2026

Catalog Sales campaigns serve products from a feed while users search for ideas and products on Pinterest. Like Conversions campaigns, they use target CPA bidding. The strongest lever for reducing CPM is feed quality: clear images, accurate prices, current availability, and complete product attributes allow the system to match products to more relevant searches.

• Minimum: $4–7
• Lower Average: $7–10
• Average: $10–16
• Upper Average: $16–24
• Maximum: $24+

What Determines Catalog Sales CPM

Feed completeness. A complete catalog with consistent product data gives the algorithm more matching options and generally keeps delivery closer to the lower end of the range. Missing prices, outdated availability, weak product photography, or incomplete attributes narrow those options and raise cost.

Industry competition and season. Retail auctions become substantially more competitive in Q4 as advertisers increase catalog budgets ahead of the holidays. The same feed and audience can cost materially less in Q1 or Q2.

Catalog structure and budget. Large catalogs require enough budget to generate learning data across meaningful product groups. Fragmenting a small budget over too many products prevents the system from identifying which items deserve additional delivery.

These ranges should be used as planning references rather than auction guarantees. Actual CPM depends on industry, audience breadth, creative quality, feed health, bidding mode, and season. A campaign that remains within the average range for its objective is generally operating normally. A campaign that consistently exceeds the upper-average range should be reviewed for one or more of these factors.

What Determines CPM on Pinterest

In addition to objective-specific variables, several platform characteristics affect CPM across Pinterest campaigns.

Second-price auction. Pinterest does not necessarily charge the advertiser's maximum bid. It charges the amount required to beat the next eligible bid. This mechanism limits some auction spikes and can make delivery more predictable than in more saturated channels.

Seasonality. Q4 is generally the most expensive period because retail advertisers compete for holiday inventory. Q1 and Q2 are usually the least expensive, making the first half of the year a practical period for creative testing and audience learning.

Industry. Cost varies by category. Fashion, retail, beauty, food, and home-related topics benefit from large volumes of relevant visual inventory. Narrow B2B categories tend to have fewer qualified users and may pay more for reach.

Unbranded search and commercial intent. Up to 97% of top Pinterest searches are unbranded. Users are looking for an idea or solution rather than a specific company, which gives newer brands an opportunity to enter the consideration set through relevance rather than brand size alone.

Audience growth. New users and faster growth among men continue to expand inventory in areas such as men's fashion, DIY, home improvement, and personal finance. Where advertiser demand has not yet caught up with audience supply, CPM can remain lower than on more saturated platforms.

Format. Vertical video and immersive formats can earn more saves, clicks, and downstream actions than static Pins. Format may not always reduce CPM directly, but it can increase the number of useful actions generated by each thousand impressions.

Pinterest Ads CPM Benchmarks in the United States for Q1 2026

In the first quarter of 2026, Pinterest CPM remained low immediately after the year-end decline in advertiser competition. January observations placed average upper-funnel CPM near $3.50 in the United States, materially below the levels seen in larger social feeds during the same period. By the end of the quarter, lower-funnel averages began to rise as advertiser demand recovered.

Average CPM by Campaign Objective in Q1 2026

Quarter-over-quarter comparison shows moderate increases in lower-funnel CPM for Conversions and Catalog Sales in Q2 2026, while upper-funnel Brand Awareness and Video Views remained close to Q1 levels. This is consistent with seasonal auction behavior. As demand returns after the beginning of the year, action-based and catalog objectives become more expensive first because advertisers compete most aggressively for users with a higher estimated purchase probability.

The upper-funnel difference remains within a relatively narrow band. Brand Awareness CPM stayed in the low single digits in both quarters, while Video Views remained within a single-digit average range. Lower-funnel CPM is more sensitive to account setup, event quality, product feed condition, and season, which is why the spread between minimum and maximum values is wider.

Advertisers entering Pinterest for the first time may benefit from starting with upper-funnel campaigns during the first half of the year. Lower CPM and reduced competition make it easier to test creative, identify relevant audiences, and build account history before moving into conversion and catalog optimization. Conversion objectives should be introduced after the Pinterest tag is functioning correctly and the account has accumulated enough action data to support algorithmic learning.

These figures are planning references, not guaranteed auction prices. Use them to establish an initial expectation, then make budget and bidding decisions based on the performance history of the individual account.