What is your experience with LiveIntent newsletter ads?

Sutra

On the edge of the sand
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As a follow up to my other thread, about monetizing email newsletters, I have another question, this time about LiveIntent.

In your experience, what are the typical CPM's earned with LiveIntent?

I ask because I'm wondering if the play here is similar to SEO. Basically, build at a loss, even a big loss, until you hit the tipping point, become profitable then scale.

From what I understand, you need something like 3 million monthly email impressions to get accepted to LiveIntent. If the typical CPM is decent enough, then I could just build out my email list at a loss until I get enough subscribers to add LiveIntent. If adding LiveIntent tips the Customer Lifetime Value into profit, I could scale.