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CPM is considered the optimal form of selling online advertising from the publisher's point of view. A publisher gets paid every time an ad is shown.
eCPM is used to measure the effectiveness of a publisher's inventory being sold (by the publisher) via a CPA, CPC, or CPT basis. In other words, the eCPM tells the publisher what they would have received if they sold the advertising inventory on a CPM basis (instead of a CPA, CPC, or CPT basis). - from Wikipedia