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eCPM

Effective CPM: revenue divided by impressions, times a thousand, regardless of how the deal was priced.

eCPM lets a rev-share deal, a flat fee and a CPM deal be compared on the same axis. It is an output of reporting, not an input to a decision.

$15CPM deal$12.5Rev-share$9.5Flat fee
eCPM puts a rev-share deal, a flat fee and a CPM deal on the same axis: revenue ÷ impressions × 1,000.