Playback-based CPM means effective playback-based cost per mille and tells you how much advertisers paid per thousand monetized playbacks.
To calculate your playback-based CPM, the total revenue from ads is divided by estimated monetized playbacks. An estimated monetized playback happens when a viewer sees at least one ad impression when watching one of your videos.
What is Playback-based CPM? (YouTube)
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What is Playback-based CPM? (YouTube)
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