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CPM (cost per mille)
CPM is the price an advertiser pays for one thousand ad impressions, whether or not anyone clicks.
Mille is Latin for thousand. A $10 CPM means 1,000 impressions cost $10, so each one costs a cent. Display networks, social platforms and many newsletters price this way.
CPM rewards the seller for showing the ad, not for the ad working. To compare it with a per-click price, divide it by the clicks a thousand impressions produce — which depends entirely on the click-through rate.