ChatGPT ad rates tumble — $60 CPM to as low as $25, minimum spend cut to $50K

Price slide

It has been reported that advertising rates for ChatGPT have fallen sharply since launch — from a $60 CPM nine weeks ago to reported averages nearer $45 and, in some buys, as low as $25. One ad agency says it’s onboarding a client at the $60 base but is seeing averages around $45; an ad exec, speaking anonymously, allegedly told Digiday they’ve seen CPMs between $35 and $25 when buying through Criteo. It has been reported that Ad Age even flagged rates as low as $15, though that figure’s routing is unclear. Meanwhile, the minimum spend to participate in the pilot has reportedly dropped from $250,000 at launch to $50,000.

Why prices are slipping

Is this just auction mechanics? Not entirely. ChatGPT doesn’t yet run a live auction; the more consequential signal may be the lower entry threshold that widens the buyer pool and lets prices find a new floor. “It feels like everything is coming down, preparing for a wider auction accessibility,” it has been reported that Ashley Fletcher, CMO of Adthena, said — and that rings true. There’s precedent: Netflix launched at CPMs around $55–$65 in 2022 and slid to $20–$30 within a year as inventory scaled. But Netflix had a clear value exchange baked into viewing; ChatGPT still has to prove that ad placements are a useful, trusted addition to conversational answers.

The trust and measurement hurdle

Measurement is the sticking point. It has been reported that Robert Webster of TAU warned that Google and Meta “own industry measurement” and that post-view attribution at $60 CPM is a tough sell until independent verification exists. OpenAI is building conversion tracking, cost-per-action and cost-per-click options — if those land and perform, the CPM debate will take a back seat. Advertisers compare ChatGPT’s early CPMs to mature platforms that sit much lower (Facebook ~$4.82, Instagram ~$7.63, Google Display ~$10.33, TikTok ~$3.02) and to pricier but accepted contexts like LinkedIn (~$39.19).

What comes next

OpenAI has moved fast — nine weeks from zero to a self-serve ads manager and a Criteo partnership — but speed isn’t the same as proof. Advertisers are testing. Some are hopeful; others cautious. The emotional moment here is trust: can ChatGPT turn a conversational interface into a transparent, measurable place for ads without breaking the illusion of unmediated advice? If it can, CPMs may stabilize; if not, this could be a rapid descent into commoditized inventory. Time — and third‑party measurement — will tell.

Sources: digiday.com