$27.08 CPM
example: the middle price for 12,000 subscribers, 40% open rate
| Price of the ad | $325.00 |
| Audience (subscribers or impressions) | 12,000 |
| CPM, per 1,000 subscribers | $27.08 |
| Opens at a 40% open rate | 4,800 |
| CPM, per 1,000 opens | $67.71 |
Newsletters with 12,000 subscribers ask $200 to $600 for the main slot of one issue (the middle half), which is $16.67 to $50.00 per 1,000 subscribers. This CPM sits inside the middle half. The median for the 5,000 to 19,999 band is $35.00 per 1,000, across 111 newsletters (printed prices read October 25, 2026).
Cite this: A $325.00 ad sent to 12,000 subscribers is a $27.08 CPM. Newsletters that size ask $16.67 to $50.00 per 1,000 subscribers for the main slot (middle half, 364 newsletters, prices read October 25, 2026). Source: Book a Sponsor, https://bookasponsor.com/cpm-calculator.
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Newsletter CPM by list size
The price per 1,000 subscribers falls as lists grow, because prices rise more slowly than the list does. Each row is the median among newsletters in that band that print a main-slot price for one issue and their list size. The last column divides the band's median price by its median list, so it runs a little off the median per 1,000.
364 newsletters with a printed main-slot price and a stated list of 500 or more · read October 25, 2026 · asking prices, not what sponsors paid · the full method is on the rates page
Newsletter CPM against other channels
Each channel counts its audience differently: newsletters by subscribers, YouTube by views, podcasts by downloads. Compare them with that in mind. These are published figures, re-read on their own pages on November 4, 2026.
On subscribers, a newsletter of 50,000 to 99,999 lists at a median $9.36 per 1,000 and one of 100,000 or more at $6.01. A large newsletter can sell several slots in one issue, so the whole issue can earn more per 1,000 subscribers than one slot does.
How the calculator works
CPM = price of the ad / audience x 1,000. Price = CPM x audience / 1,000. Audience = price / CPM x 1,000. Fill in any two and it works out the third. With all three filled in, it keeps the price and the audience and works out the CPM again. With an open rate, it also counts the opens (subscribers x open rate) and gives the CPM on those.
The comparison uses the same prices as the sponsorship calculator: a line fitted through the main-slot prices of 364 newsletters, read from their advertise pages and booking storefronts on October 25, 2026. The middle half is the 25th to 75th percentile around that line at your list size. It covers one main slot in one issue. A dedicated send, a bundle of issues or a second slot prices differently. To ask more than your size suggests, show a click count or a past sponsor's result.
Questions
What is CPM?
Cost per mille: the price of an ad for each 1,000 people it reaches. Mille is Latin for thousand. A newsletter can count reach as subscribers or as opens; video counts views and podcasts count downloads.
How do you calculate CPM?
Divide the price of the ad by the audience and multiply by 1,000. A $350 ad in a 12,000-subscriber newsletter is $350 / 12,000 x 1,000 = $29.17. To get a price from a CPM, multiply the CPM by the audience and divide by 1,000; to get the audience a budget buys, divide the price by the CPM and multiply by 1,000.
What is a good CPM for a newsletter?
It depends on list size. The median main slot lists at $69.94 per 1,000 subscribers under 5,000 and $35.00 at 5,000 to 19,999. It is $19.23 at 20,000 to 49,999, $9.36 at 50,000 to 99,999 and $6.01 at 100,000 or more (364 newsletters, read October 25, 2026). Small lists ask more per reader and less per issue.
Should a newsletter CPM count subscribers or opens?
Say which one you mean, because the two can differ by more than double: at a 40% open rate, the CPM on opens is 2.5 times the CPM on subscribers. A CPM on subscribers is the one a sponsor can check against the list size you state. Open counts are also hard to trust: Litmus says Apple Mail Privacy Protection affects about 55 to 60% of all email opens (read November 4, 2026). Put your open rate in the calculator to see both.
How do I turn a CPM into a price for my newsletter?
Multiply the CPM by your subscribers and divide by 1,000: at $35.00 per 1,000, a 10,000-subscriber list prices the main slot at $350. Round it to a number you would say out loud, and check it against the sponsorship calculator, which prices a second slot and a classified too.
What is the difference between CPM and CPC?
CPM prices reach: a fixed amount per 1,000 people the ad goes to. CPC prices clicks: the price divided by the clicks it got. A $350 ad that gets 70 clicks has a $5.00 CPC. A sponsor can work out the CPC after the send, so report clicks with every issue.
Sources
- Newsletter prices: the rate model behind what newsletters charge for a sponsorship, 364 newsletters' advertise pages, read October 25, 2026.
- 1440, a daily news newsletter: Digiday, March 2025, read November 4, 2026.
- YouTube sponsored integration: 1of10, published August 24, 2026, read November 4, 2026.
- Podcast host-read ad, 60 seconds: Libsyn Ads rate card, read November 4, 2026.
- Opens and Apple Mail Privacy Protection: Litmus email client market share, read November 4, 2026.
Turn the CPM into a booked slot
Paste your newsletter. Book a Sponsor lists the brands that sponsored newsletters like yours, finds the person who buys the ads, and emails them every day from its own mailboxes. You get the replies and close the deal.
$1 card check gets 200 emails, then a plan from $19/mo · first sponsor reply inside 30 days or your money back
Next: what newsletters charge by list size and the brands that sponsor newsletters.