CPM (cost per mille)
also known as cost per mille · cost per thousand
The price of podcast advertising per thousand listens or impressions. CPM is the standard unit for buying and selling podcast ad slots, and a rough way to value a show's audience for sponsorship.
For example, a show with 5,000 downloads per episode sells a mid-roll slot at a £25 CPM, earning about £125 per episode for that placement. For most B2B shows, though, sponsorship is a minor consideration next to the pipeline the show drives.
Why it matters: CPM matters if you sell or buy podcast ads, but for B2B brands running a show as marketing it's usually the wrong lens. The pipeline a podcast influences is typically worth far more than any CPM-based ad revenue it could earn.
A healthy B2B show is valued less on raw CPM and more on how qualified the audience is - a tiny show heard by the right buyers can command a premium that mass-market CPMs never touch.
Ad revenue per episode = (downloads / 1,000) x CPM x number of ad slots
CPM = cost per mille (per thousand). B2B shows often skip ads entirely in favour of pipeline.
- Pricing a niche B2B show off generic consumer CPM tables and badly undervaluing it.
- Chasing higher CPMs by inflating downloads with low-intent listeners.
- Quoting CPM without being able to describe who actually listens.
What is CPM in podcasting?
The price of podcast advertising per thousand listens or impressions. CPM is the standard unit for buying and selling podcast ad slots, and a rough way to value a show's audience for sponsorship.
What is a typical podcast CPM?
Podcast CPMs vary widely by format and audience, with host-read and well-targeted niche placements commanding the highest rates. For B2B, a small but precisely-targeted audience can be worth far more than the CPM implies.
Should a B2B podcast take sponsorship?
Often not as a priority. If the show is driving pipeline, the audience is usually worth more building your own brand and relationships than selling to a sponsor - though a relevant sponsor can sometimes add value.