CPM stands for Cost Per Millie. It represents the cost per 1000 ad impressions. CPM shows how much an ad unit costs and how much revenue publishers and advertisers will generate every 1000 impressions.
CPM is an important metric for the monetization and pricing of the mobile app advertising space.
The efficiency of CPM campaigns can be seen through the CTR (Click Through Rate). When compared to other measures, CPM is an ideal pricing model. CPM is calculated by the given formula
CPM = 1000 * (Total cost of campaign/ Number of Impressions)