On Friday, Facebook, the Social Media giant apologized for an error in the manner in which it measured a key ad metric of video viewership that significantly boosted user’s viewing times on the platform. The California based giant said a few weeks ago that a metric for average user time on videos was artificially inflated as it only counted videos viewed for over three seconds.
At the time, Facebook had said that the “discrepancy” did not impact advertising billings and introduced newer metrics to replace the previous method.
Facebook has made noteworthy strides into video, which has attracted advertising interest and has benefited from the shift in advertising spending towards the internet and other mobile platforms.
“While this is only one of the many metrics marketers look at, we take any mistake seriously,” David Fischer, vice president of business and marketing partnership at Facebook, said in a post.
The news was first reported by the Wall Street Journal on Thursday.
Shares of the company closed down 1.6 percent at $127.96 on Friday.
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From ITvoir News Desk