If you have betweem 80,000 to 100,000 ad views a day you would make that at $1 CPM. If you have 2 ads per page that is 40,000 to 50,000 page views a day. At that rate your charging .1 cents per ad view.
As for Sitepoint you have to take into the fact that the majority of ads are smaller and carry a much smaller price tag, plus it took a lot of hard work and effort to get ad rates that high.
CPM varies a lot according to uniqueness of your site and also according to how much traffic your site gets, how good your ad-rotator is, how targeted ythe sponsor's ads can be, what you know about your visitors (demographics) and much more...
That being said, the average CPM, for smallish sites ranges between 5-10$ middling sites, 15-25 and then up and up... I know a site that pulls in 110$ CPM (wouldn't I love to be them!!!)
Actually it stands for "Cost Per Thousand". The 'M' is the roman numeral for 1000. It stands for the cost per thousand impressions (or displays) of your ad.
If you charge $20 CPM and some pays you $400 dollars to show their ad you will show their ad, 20,000 times on that account.
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