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Definition of 'Cost Per Thousand - CPM'
Web sites that sell advertising will guarantee an advertiser a certain number of impressions quoted at X dollars per CPM.
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Investopedia explains 'Cost Per Thousand - CPM'
For example, a Web site that has a CPM rate of $20 and guarantees advertisers 100,000 impressions, will charge $2,000 ($20 x 100).
Why the M? It's the roman numeral for 1000.
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