Several weeks ago, Tiger Pistol’s Paul Elliott, CEO, began tracking a global analysis of the weekly growth of active COVID-19 cases in eight countries to determine how they correlate with the average Facebook and Instagram CPMs during the same time*, all to discover if CPMs could be a leading indicator of economic recovery. Since then, we’ve been closely monitoring the trends outlined in Paul’s original publication and will be offering weekly insights.
Updated July 10, 2020
We’re officially in the second half of the year, and cases are still rising in countries like the United States and Brazil, with numerous U.S. cities posting daily records. From a medical perspective, in the United States, multiple states are beginning to mandate residents wear masks in an effort to slow the spread and businesses are moving back to partial opening or closure.
We’re also nine days into the #StopHateForProfit campaign, which saw a 32% drop in CPMs week-over-week in the U.S. Whether this drop is connected to the shift away from Facebook spend or the rise in cases remains to be seen.
Canada saw the steepest drop in CPM with 42% week-over-week.
Germany is the outlier in this week’s report. They’ve not only seen a drop in cases this week, but their CPM is the only one to rise this week.
Updated July 2, 2020
A few days ago, we hit 10 million global COVID-19 cases, a milestone we didn’t think we’d see a few months ago. Now entering the third quarter of 2020, we might begin to see some fluctuations as governments enact long-term plans for the safety and well-being of their citizens.
Overall, we’re seeing cases spike in the United States and a continued rise in Brazil.
In other countries, a slight uptick in cases, but the same sort of fluctuations in CPM from week to week. Within July, we may also begin to see effect of #StopHateForProfit on Facebook advertising, but this might only affect US CPMs.
- Italy has made the biggest comeback, with their CPM regaining strength this week to the highest level since before we began tracking.
- Canada & Spain are also seeing CPM strengthening.
Updated June 26, 2020
This week’s overarching message can be stated in a word: Instability. Some countries are trying to decide “is this over?,” while others are clearly not out of the woods.
We’re still in Wave 1 in most places, and a case could be made for Wave 1.5. Studies are showing that being in enclosed places (restaurants, bars, etc.) increases the likelihood of contracting the virus, which leads to a lot of businesses having to make the decision whether or not to reopen or stay closed. Through the end of Q1 and beginning of Q2, it’s clear there was stability in most of the countries.
United States/Canada: Three of the largest populated states in the USA have begun experiencing a rapid spike of cases within the last week, leaving governors to decide to continue or halt phased openings. June as a whole saw an increase in overall CPM, after an initial dip at the start of the month, but with the uncertainties surrounding freedom of movement during the summer, we’re predicting CPMs may drop again in July (as seen in the last week).
EU: The EU ramped up opening its borders, with most of the countries listed below open to travelers on the continent. Spain has seen a resurgence in cases and while they reopened their borders, a mandatory quarantine is in place and CPMs – while overall had steadied, plummeted the first weekend of reopening. Italy, similarly to Spain, has seen a sharp rise and fall of CPMs in a 3-week period, but have not seen a rise in cases (except for a new set of cases in the southern part of the country). Germany is all over the map, with sharp rises and drops, garnering attention as while the country was set to reopen fully, officials were forced to put that on hold due to a case flare up.
Australia: Australia managed to deal with the outbreak pretty swiftly, with a short spike and then drop off of cases. This has led to a steady rise of CPMs for the region.
Brazil – Brazil as a country is really struggling, drawing eyes not only from a public health crisis perspective, but also from a “discount” perspective. CPMs remain steady since their drop in Q1, as the country has yet to see a drop in cases.
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