“When you talk about local advertisers in Winnipeg versus the national ones coming in through CPAX, they can be the same brand, but often they’re completely different campaigns from a financial standpoint,” Kukreja said.
While CPAX was meant to drive CPM growth, it’s unclear if that’s actually happening. As per CPAX rules, publishers can see their CPMs individually, but not collectively, so it’s impossible to know if CPMs are rising throughout. Index Exchange did not supply CPM data for CPAX.
St. Joseph Media, for instance, said it was seeing month-over-month improvements since it first tested CPAX. But Winnipeg Free Press didn’t have usable data, because a redesign made it difficult to gauge any revenue impact.
Based on where a CPAX publisher places the demand in its ad stack or how many impressions it fills via CPAX, revenue can vary, explained Jeff MacPherson, director of monetization at CBC – a founding publisher of CPAX.
The next boost to CPAX will likely happen in early 2016, when the group adds mobile app and mobile web inventory to the mix.
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