<b>December CPMs run 35-55% above the trailing year. January gives it all back.</b>

<b>December CPMs run 35-55% above the trailing year. January gives it all back.</b>

Monthly CPM index, 100 = annual avg, US display, illustrative:
— Jan 72 ▮▮▮▮
— Apr 91 ▮▮▮▮▮
— Jul 88 ▮▮▮▮▮
— Oct 108 ▮▮▮▮▮▮
— Nov 138 ▮▮▮▮▮▮▮
— Dec 152 ▮▮▮▮▮▮▮▮

Brand budgets dump before fiscal year-end; Q1 is the hangover. The Dec→Jan drop (~-53%) is the sharpest swing of the year.

So what: bank Q4 revenue, don't model annual run-rate off it. Schedule big traffic pushes for Oct-Dec. ▲ +52% Dec vs avg.