As multimedia services are gaining considerable popularity in the Internet of Things, providing QoE in smart mmIoT becomes a challenging issue. This article conceptualizes a new framework named SMP, to price the QoE rather than the binary data traffic in IoT multimedia services. By introducing PaaR in QoE-driven network scheduling in mmIoTs, a new dimension of price distortion is available in multimedia resource allocation, complementing traditional rate distortion and power distortion resource allocation approaches. This article also discusses open research challenges in SMP resource allocation, including the difficulty of numerical presentation of QoE, the unavailability of packet-level distortion information, and the non-concavity of the utility functions. A case study is presented to illustrate the PaaR potentials of improving QoE through the SMP framework in mmIoTs.