China MediaExpress Holdings, Inc. (fka CCME)

[v80alue]

CCME,

Your viewer calculation is flawed.
1. It takes about one hour for passenger to reach destination. So every hour passengers SWITCH to a new group. You need at least factor of 16 for daily passenger volume.
2. Bus load is typically 85-90%. remember sometimes it is over 100%.
3. They charge premium for holidays or special event. Guanzhou is to be the host of Asia game. Likely they will get premium on AD rate. in a word CPM is just a starting point.