Open Auction Benchmarks: December 2025

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December 2025 Display & Video Benchmarks

Programmatic Open Auction

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The takeaway

December pricing eased from November but held well above last year on Display. Display and Video CPMs both dipped month over month, while advertiser spending edged up on Display and trailed last year on Video.

  • Display CPM down 4% MoM; Video CPM down 5% MoM
  • Advertiser spending up 2% (Display) and down 5% (Video) year over year
  • Standout video growth: one advertiser grew spend over 170% MoM, another over 240%
Format
CPM
MoM CPM
YoY CPM
Display
$1.75
▼ 4%
▲ 24%
Video
$3.8
▼ 5%
▼ 4%

Display Benchmarks

Month over Month
Advertiser Spending▼ 8%
CPM▼ 4%
Year over Year
Advertiser Spending▲ 2%
CPM▲ 24%
Top Display Advertisers
#BrandShare of VoiceCPMMoM Spending Trend
1Amazon3.21%$1.77▼ 13.27%
2Temu2.16%$2.26▲ 17.77%
3AT&T2.08%$1.81▼ 1.78%
4Best Buy1.76%$2.79▼ 35.99%
5Comcast1.67%$2.00▲ 3.21%
6Fidelity1.48%$5.10▲ 38.22%
7Chevrolet1.44%$2.47▲ 18.17%
8Sephora1.32%$3.03▲ 10.31%
9Capital One1.26%$1.44▲ 7.35%
10American Express0.96%$2.19▼ 9.40%
Spending Trend Insight

Sephora’s “It’s Time” holiday campaign starring Mariah Carey appears in public marketing roundups as one of the top holiday campaigns of 2025. Its impact spans multiple channels, including social and digital display elements.

Top Display Partners
#BrandShare of VoiceCPMMoM CPM Change
1Google Ad Manager58.06%$1.41▼ 6.42%
2Index Exchange8.19%$2.01▼ 4.31%
3Xandr7.32%$4.76▼ 8.08%
4Magnite5.70%$1.70▼ 4.37%
5TripleLift3.13%$1.42▼ 11.63%
6PubMatic2.87%$2.23▼ 6.67%
7Media.net2.18%$1.33▼ 4.98%
8OpenX1.91%$2.01▲ 9.68%
9Minute Media1.03%$1.88▲ 19.88%
10A91.00%$1.39▲ 23.10%

Video Benchmarks

Month over Month
Advertiser Spending▼ 4%
CPM▼ 5%
Year over Year
Advertiser Spending▼ 5%
CPM▼ 4%
Top Video Advertisers
#BrandShare of VoiceCPMMoM Spending Trend
1Apple4.45%$3.09▲ 15.50%
2Coca-Cola2.33%$8.23▲ 172.99%
3Chevrolet2.25%$3.51▲ 62.31%
4Best Buy2.10%$3.95▲ 45.36%
5Ford1.84%$5.69▲ 96.73%
6Capital One1.70%$3.10▲ 17.13%
7Amazon1.47%$2.44▼ 41.56%
8Walmart1.35%$1.68▲ 18.44%
9St. Jude1.29%$7.03▲ 241.57%
10Chase1.14%$2.12▲ 89.70%
Spending Trend Insight

Apple released a holiday commercial in December 2025 called 'A Critter Carol.' It featured handcrafted puppet visuals and woodland creatures celebrating friendship and joy during the season.

Spending Trend Insight

Coca-Cola’s annual Christmas campaign continued in December 2025 with new films, including refreshed versions of the classic 'Holidays Are Coming' truck spot and emotionally driven seasonal stories, like 'A Holiday Memory'.

Spending Trend Insight

As part of Best Buy’s mid-November holiday push, multiple video ad variants ran through December — including cozy home tech, gift ideas, and emotional lifestyle positioning.

Spending Trend Insight

St. Jude ran non-commercial, emotional, and heart-centered video spots in December. They encouraged support and awareness for pediatric care, connected to its 'Thanks & Giving' partnership campaign.

Top Video Partners
#BrandShare of VoiceCPMMoM CPM Change
1Google Ad Manager39.64%$2.77▼ 1.99%
2Magnite12.97%$4.04▼ 0.06%
3Index Exchange8.51%$4.39▼ 3.68%
4Xandr7.01%$6.63▼ 13.57%
5A94.50%$4.20▼ 5.51%
6PubMatic2.45%$6.29▼ 3.59%
7TripleLift2.01%$3.33▼ 17.20%
8Minute Media1.56%$5.99▼ 3.75%
9OpenX1.42%$4.35▼ 20.74%
10Undertone1.39%$5.59▼ 6.44%
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