Ask what native advertising pays and you will get answers ranging from pennies to double-digit RPMs. Both are true, and neither is useful.

Country is most of it

A reader in the United States can be worth several times one in a smaller market, because the advertisers bidding for them are spending more.

Placement matters more than people expect

A unit below the article, where readers are already deciding what to read next, consistently outperforms one in a sidebar.

Viewability is the multiplier

An impression that never enters the viewport is worth nothing.