Can someone explain CPM?

Technically, your YouTube revenue isn't CPM, it's RPM (revenue per mille). CPM means cost per mille, which is a measure of cost (what advertisers pay to have their ads show on your content).

You yourself as a content creator/broadcaster don't measure income/money coming in cost, you measure it in revenue.

But yes as others have mentioned RPM is your revenue per 1000 impressions (views).
 
So is the 1000 views base on each video or is it done as a whole by the end of the month
 
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