I flipped through a book named So You Want To Start a Podcast. It didn’t seem particularly insightful. This is, as a non-money podcaster, is a thing I’ve wondered about, though:
How Much Advertisers Pay for Spots on Podcasts
CPM stands for “cost per mil” (mil is derived from the Latin word meaning “thousand”—so another way to say this would be cost per thousand”). It works like this: You and the advertiser determine how much money they are willing to pay for each thousand downloads a new episode of your show receives over the course of a month. So, if each episode of your show receives 10 000 downloads in its first month, that means you’d earn $200 for that one ad appearing in one new episode of your show. CPM rates usually range from $15 to $50 with the higher rates going to shows with the most downloads.