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Facebook inflated video-viewing metrics for two years

Knowing how popular videos are is critical for advertisers to know what works and what doesn’t,according to the newspaper, a new metric is being introduced to correct the problem.

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FILE - A man is silhouetted against a video screen with an Facebook logo as he poses with an Samsung S4 smartphone in this photo illustration taken in the central Bosnian town of Zenica, August 14, 2013. Yahoo
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Sept 27,2016: Facebook has revealed, it overestimated the amount of time people spent on the site watching videos over the time period of two years.

“We recently discovered an error in the way we calculate one of our video metrics,” the company said in a statement. “This error has been fixed, it did not impact billing, and we have notified our partners both through our product dashboards and via sales and publisher outreach.”

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One ad buying firm, Publicis Media, told The Wall Street Journal that the social media behemoth overestimated the amount by between 60 and 80 percent, calling the problem “unacceptable.”

Knowing how popular videos are is critical for advertisers to know what works and what doesn’t. Traffic metrics also drive ad pricings. According to the newspaper, a new metric is being introduced to correct the problem.

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The problem stemmed from what Facebook called the “average duration of video viewed,” which sounds self-explanatory, but the social media giant was not counting views of fewer than three seconds. This drastically inflated the numbers.

Facebook has said it fixed the issue, but Publicis says the problem shows the need for third-party verification of Facebook metrics. (VOA)

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Facebook might lose $23 billion

This planned change sparked fears people will spend less time on the site, leading to its share stock suddenly dropping.

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Facebook shares fell down by 4% after Mark Zuckerberg announced a change in News Feed feature.
Facebook shares fell down by 4% after Mark Zuckerberg announced a change in News Feed feature.
  • Facebook recently was on the verge of losing $23 billion after they decided to make some changes in the News Feed feature.
  • The change was announced in order to make the time spent on the social networking site more meaningful.
  • However, the change leads to a 4% fall in the share of the Facebook.

Facebook was on course to lose 17 billion pounds ($23 billion) of its value after it announced it was making changes to its News Feed feature that will allow users to see more updates from family and friends than posts from businesses, brands and media.

Facebook share fell 4 percent within hours after Facebook CEO Mark Zuckerberg announced the changes to make the social network more meaningful, The Sun reported.

This change was supposed to make Facebook more meaningful. Pixabay
This change was supposed to make Facebook more meaningful. Pixabay

This could also result in lining them up for its worst financial position in more than three months — and Zuckerberg losing $3.3 billion of his own personal net worth.

“One of our big focus areas for 2018 is making sure the time we all spend on Facebook is time well spent. We built Facebook to help people stay connected and bring us closer together with the people that matter to us,” Zuckerberg posted on Facebook late on Thursday.

The CEO said that Facebook has got a feedback from the community that public content — posts from businesses, brands and media — is crowding out the personal moments that lead us to connect more with each other.

The change will show more posts by family and friends instead of brands and businesses, Pixabay
The change will show more posts by family and friends instead of brands and businesses, Pixabay

“We’re making a major change to how we build Facebook. I’m changing the goal I give our product teams from focusing on helping you find relevant content to help you have more meaningful social interactions,” he said.

“As we roll this out, you will see less public content like posts from businesses, brands, and media. And the public content you see more will be held to the same standard — it should encourage meaningful interactions between people,” Zuckerberg added.

This planned change sparked fears people will spend less time on the site, leading to its share stock suddenly dropping.

Zuckerberg admitted that the new changes might not pay off at first, but believes it is important users have more meaningful social interactions, The Sun said. IANS

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