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CPM stands for Cost Per Thousand.

CPM refers to an Internet marketing or advertising model based on the cost of 1000 impressions of your ezine or web ads. If a publisher is selling advertising for $45 CPM, you would pay $45 for one thousand impressions of your advertisement, or .045 cents each per impression.

With this model of advertising, the risk is born by the advertiser. He or she pays for the impressions regardless of whether or not the viewer clicks through or takes any action. The publisher's obligation is to serve the ad to site visitors or ezine subscribers.

Marketers using the CPM model of advertising often use ad tracking software to ensure that the publisher's count of impressions equals their own count.