Revenue Per Mille

RPM takes everything a channel earned, divides by its views and scales to a thousand. It includes ads, channel memberships, Super Chat, Super Thanks and YouTube Premium revenue, and it is worked out after YouTube has taken its share, which makes it the figure that reflects what lands in the account. CPM measures something different: what advertisers pay per thousand ad impressions, before YouTube's cut and before any of the views that never carried an ad. The gap between the two numbers is mostly those unmonetised views, which is why a modest RPM can sit under a healthy CPM without anything being wrong.