The other day I met with the head of a well-known site that publishes lots of videos (viral and series). He said they are getting $20-25 CPMs for some of their pre-rolls. For reference: at that rate a single video getting 100,000 views makes $2,000. So if you can sell an advertiser on long-tail viewing of a bunch of your videos and provide significant reach, you’re not doing too badly.
By the way, when I brought up rumors of Hulu getting $40, he suggested that the figure covers all of a sponsor’s ads within an episode, not just a single spot. Is there anyone who can confirm that that’s how it works?