Traditionally, CPV campaigns were reserved for brand awareness advertisers. However, performance app advertisers are increasingly buying ads on a CPV basis. This is because buying on a CPV basis levels the playing field for both types of advertisers: CPI (cost per install) campaigns, which are more typical, can sometimes place performance advertisers lower in the waterfall because the impact of the conversion lowers the final CPM they generate, meaning advertisers lose out on in-app inventory and are unable to scale their campaigns. But by buying on the same pricing model as brands, performance advertisers can ensure that their bids remain competitive.
CPV = advertising cost / video views