Sirius XM CPM Comparison Chart
Source: RaptorUSA media experience, research and outright opinion
CPM stands for cost per thousand, a common media buying metric. More on CPM is at the bottom of the following chart.
Below are the comparison costs of advertising on Sirius XM versus other options, including digital marketing and social media.
| Platform | Typical CPM Range | Benefits | Drawbacks | Notes |
|---|---|---|---|---|
| Sirius XM Satellite Broadcast | $1 to $3 | One of the last, great mass media, cheap to start only $20,000 sometimes less. Big reach with frequency, brand prestige from ads on platform | National only, no localization. Few targeting options. No self service, must use specialty agency or go direct |
Sirius draws a wealthier, educated, slightly older audience, loyal listeners. This is the cost for a 60 second spot |
| Traditional Radio | $10 to $30+ | Localization, can advertise on local shows | National advertisers will spend at least $100k on a campaign on one of the national networks – entry point – low frequency |
You can buy remnant media on national networks at around $8 CPM. These are the costs for 30 second spots |
| Spotify / Pandora | $15 to $25+ | Highly targetable by psychographics and demographics, dozens of variables | The more you target, the more expensive it is. Hard to afford a mass audience. Listening environment can dilute impact of ad | Sirius XM owns Pandora. Self-service options |
| Podcasts | $15 to $25+ | Brands may benefit from coattail effect (this is implied endorsement from the talent), brand loyalty | Much smaller audiences, podcaster must approve |
Host-read mid-roll: $15–30; pre-roll: $18–25; post-roll: $10–20; programmatic/dynamic audio: $5–15. Sirius XM also has one of the largest podcast networks and their costs fall within this range |
| $8 to $20 | Relatively fast and cheap, small budgets, variety of ad formats, self-service | Can be fickle audience, looky loos on the platform to have fun, look around. Aging user base | Because so many businesses advertise on Facebook, ads must compete for attention in crowded news feeds. Users can become “ad-blind” from seeing repetitive or irrelevant ads, diminishing performance over time | |
| YouTube | $4 to $10 | Visual medium, benefits visual brands, more information quickly, long-form | Similar to Facebook. CPM can escalate quickly for competitive categories | Success usually requires a strong hook, engaging brand, riddle to be paid off |
| Google Search | > $80+ (often as high as $1000 for small campaigns without much volume) | Highly targetable, remarketing options | Hard to reach mass audiences, very expensive on a CPM basis, AI is disrupting | Display network: $2–8, multi-channel median: $18.75 |
What CPM measures
As a metric, CPM helps advertisers understand how much they are spending to get their message in front of people. It is widely used for display, video, audio and broadcast ads where the goal is awareness rather than immediate clicks or conversions.
Because CPM is based on impressions, it is most useful when brand visibility is the primary objective. For performance‑driven campaigns, CPM should be considered alongside cost‑per‑click (CPC) and cost‑per‑acquisition (CPA).
Why CPM is Important
Budgeting and planning: Knowing the CPM allows marketers to forecast how many people they can reach with a given budget and to set realistic reach goals.
Comparing channels: CPM is a common denominator across different media formats. By converting costs into a per‑thousand‑impression figure, advertisers can compare the relative efficiency of channels such as radio, podcast, social media or search. For example, Sirius XM’s broadcast CPM (~US$1–2) is far lower than typical podcast CPMs (~US$15–30) and Google search CPMs (which can exceed US$80), making satellite radio extremely cost‑efficient.
Assessing value: CPM helps highlight when a medium is overpriced relative to the reach it provides. If two channels deliver similar audience quality but one has a much higher CPM, the lower‑CPM option may deliver more awareness for the money.
How to use CPM to evaluate advertising options
Calculate CPM for each option. Divide the total cost of a campaign by the number of impressions delivered and multiply by 1 000. For example, a US$15 000 campaign that yields 5 million impressions has a CPM of (15 000 ÷ 5 000 000) × 1 000 = US$3.
Compare CPMs across channels. When weighing different platforms (e.g., Sirius XM radio vs. podcasts vs. social media), use CPM to see which provides the most impressions for the budget. Lower CPM means cheaper reach. Higher CPM means you must pay more to reach the same number of people.
Look beyond CPM. A low CPM is valuable only if the impressions are relevant. Consider the targeting quality, audience fit, and ad engagement. For example, a higher‑CPM podcast might reach a niche audience that is more likely to convert, while a lower‑CPM display ad may deliver lots of impressions with little engagement. Use metrics like click‑through rate, time spent and conversions together with CPM.
Match CPM to your objective. For brand‑awareness campaigns, focus on channels with low CPMs and broad reach (e.g., broadcast radio or display ads). For direct response or niche audiences, a higher CPM may be justified if the audience is more qualified.
