Definitions, precisely
| Term | Formula | Includes YouTube's cut? |
|---|---|---|
| CPM | Advertiser cost ÷ (ad impressions ÷ 1,000) | No — gross |
| Playback-based CPM | Revenue ÷ (monetised playbacks ÷ 1,000) | No — gross |
| RPM | Your total revenue ÷ (total views ÷ 1,000) | Yes — net, and includes all views |
RPM also includes non-ad revenue: memberships, Super Thanks, Premium watch-time payments. CPM covers ads only. So RPM is simultaneously lower (because of the 45% cut and unmonetised views) and broader (because it counts everything you earn).
Reading the gap
| Situation | Likely cause | Action |
|---|---|---|
| High CPM, low RPM | Many views are not monetised | Check for limited-ads flags and content warnings |
| Low CPM, low RPM | Audience geography or niche | Change topic mix, or build non-ad revenue |
| RPM rising while CPM flat | Membership or Super Thanks revenue growing | Lean into fan funding |
| Both falling in January | Normal seasonality | Do nothing |
Where to find both numbers
In Studio, open Analytics, then Revenue. RPM appears on the overview; playback-based CPM sits further down, along with the monetised-playbacks count. Compare across a 90-day window rather than week to week, because both figures are noisy at small volumes.
Model revenue at different RPMs to see what improving monetisation is worth.
Free earnings calculator