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A metric used to price advertising banners. Sites that sell advertising may guarantee an advertiser a certain number of impressions (number of times an ad banner is served and presumably seen by visitors) and then set the cost based on the guarantee, multiplied by the CPM rate. For example, a Web site that charges €1.000 per ad and reports 200,000 visits has a CPM of €5 (€1,000 divided by 200).
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