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Updates as you type. Switch views to explore different relationships between spend, impressions and CPM.
Worked example
A $50,000 awareness campaign
A mid-size Australian retail brand runs display across open market and premium news. Here's how the CPM is calculated step by step.
1
Total campaign spend
$50,000 allocated to display — split across DV360 open market and direct buys with news.com.au and Nine Entertainment.
2
Impressions delivered
4,200,000 total impressions across all placements over a 4-week flight period.
3
Calculate effective CPM
Divide spend by impressions, multiply by 1,000:
($50,000 ÷ 4,200,000) × 1,000 = $11.90 CPM
4
Read the result
$11.90 sits within the AU benchmark range ($6–$14), but on the higher end — expected given premium news placements blending up from open market rates of $4–$7.
AU market data · 2025
Australian CPM benchmarks
Indicative CPM ranges across major inventory types in the Australian programmatic market. Based on agency buying data and open market observations.
| Inventory type | CPM range | Rating |
|---|---|---|
| Open market display | $3 – $8 | Strong buy |
| PMP / curated deals | $8 – $16 | Context dependent |
| Premium news (direct) | $16 – $28 | Brand justified |
| Programmatic video | $18 – $35 | Format premium |
| CTV / connected TV | $28 – $55 | Needs justification |
| DOOH programmatic | $5 – $18 | Varies by location |
| Addressable audio | $12 – $22 | Growing inventory |
Buyer's note: Always evaluate CPM in context. A $4 CPM on broad open market is not the same as $4 CPM on a targeted PMP. Low CPM plus low viewability often costs more in effective terms than a higher CPM on quality inventory.
Practitioner tips
What a good CPM actually means
CPM alone tells you very little
A $3 CPM sounds great until you find it's on low-viewability, non-brand-safe inventory. Always pair CPM with viewability rate, brand safety score and audience match quality.
Calculate your all-in CPM
What you book vs what you actually pay after DSP fees, ad serving and data costs can differ by 20–40%. Always calculate the true all-in CPM, not just the media rate.
Watch for PMP CPM inflation
Private marketplace deals carry a premium for curation, but that premium isn't always earned. Benchmark any PMP CPM against open market rates for the same publisher before committing.
High CPM does not mean high quality
Some of the worst-performing inventory in the AU market commands inflated CPMs on brand name alone. Run post-campaign analysis and hold publishers accountable to delivery metrics.
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