Google Search: +9% YoY spend, mostly from rising CPCs (+5%), not more clicks (+4%).
Shopping Ads: Clicks up 9%, spend up 8%, with Amazon still dominating.
PMax: 93% adoption but dropping in performance, lower ROAS, higher CPC than standard Shopping.
Microsoft Ads: Stronger growth (+17% YoY spend), with rising CPCs, especially for brand terms.
Advertisers face rising costs across platforms, with Microsoft gaining traction and PMax under scrutiny.
Source: Tinuiti Q1 2025 Benchmark Report
