CCME - Gene_Finder
I am from the advertising arena, so I will look at this but at first glance, there are two things that jump right out at me.
CPM is not a function of people. CPM is a function of the number of times an ad is served. Cost per thousand ad impressions. Therefore, the same ad can be viewed multiple times in a single bus trip (user session). CPM is not a function of unique eyeballs.
3RMB CPM is equivalent to a .44 USD CPM which is dirt cheap. If I were to take a calculated guess, I would say that CCME has the pricing power to go to a 2-4 USD CPM and that is still extremely low. I will look for a comp on VISN but I think it is well north of 10 RMB CPM. CCME has talked about the higher margin in this business- in this case, that is pricing power.