The social media giant had said that a few weeks ago that a metric for an average user time on videos was artificially inflated.
Facebook on Friday made apologized for an error in the way it measured a key metric of video viewership that suggestively amplified users’ viewing times on its platform.
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The social media giant had said little weeks ago that a metric for average user time on videos was artificially overstated as it only counted videos viewed for the over three seconds.
At the time, Facebook had said that the “discrepancy” did not impact the advertising billings & introduced newer metrics to replace the earlier method.
Facebook has made significant steps into the video, which has attracted significant advertising interest & has benefited from the shift in the advertising spending towards the internet and also other mobile platforms.
Revenue from advertising was the biggest driver of company’s total revenue in the latest quarter, surging 63 percent to $6.24 billion.
“While this is only one of the many metrics marketers looks at, we take any mistake seriously,” David Fischer, vice president of the business & marketing partnership at Facebook, said in a post on Friday.
“This could pose the serious blow to Facebook’s video proposition, which had so much of momentum over the last two years,” said Sarah Wood, co-CEO of the ad tech company Unruly, which is owned by News Corp.
The news was firstly reported by the Wall Street Journal on Thursday. Publicist Group SA’s advertising unit was informed by the Facebook that earlier method likely overestimated average time spent watching videos by between 60 percent & 80 percent, according to the WSJ report.
Tags: Facebook, advertisements, viewership, ad error