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Facebook ad rates soar 171% in 2017

Data: AdStage; Chart: Andrew Witherspoon / Axios

Facebook, Twitter and other tech platforms offer marketers the ability to reach niche audiences with scale and at an efficient cost. But as Facebook's ad load continues to slow, its ad auction has become increasingly competitive, causing the average cost for every 1,000 impressions (CPM) and the average cost per click (CPC) on Facebook to skyrocket, according to data from AdStage.