Facebook is in hot water again with advertisers and publishers.
On Tuesday, a group of small advertisers that call themselves LLE One (and is made up of social media firm Crowd Siren, Social Media Models, and Quirky) added a complaint to a two-year lawsuit accusing Facebook of ad fraud. Per the lawsuit, Facebook inflated a specific video metric by 150% to 900% after reporting that the metric was inflated by only 60% to 80% per cent in 2016. Moreover, the group alleges that Facebook knew about the error in 2015 and sat on it for a year before reporting it to advertisers.
Facebook has filed a motion to dismiss the lawsuit and a spokeswoman said, “suggestions that we in any way tried to hide this issue from our partners are false. We told our customers about the error when we discovered it – and updated our help center to explain the issue.”
But advertisers aren’t happy. And neither are publishers.
Click here to read more about how publishers are blaming Facebook for layoffs and forcing a shift from text articles to videos.
Speaking of Facebook, a new note from Pivotal Research analyst Brian Wieser outlines Facebook’s mounting problems and says that it might be a good time to sell stock.Facebook has been pummelled by a seemingly endless string of fiascos, scandals, and public-relations nightmares this year.
In other news:
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YouTube’s latest partnership shows how it’s had to learn to play a different game to win in the music business. YouTube struck a deal on Thursday with Eventbrite, the event and ticketing service.
Lena Dunham’s feminist newsletter, which ran articles by Jennifer Lawrence and Michelle Obama, is reportedly shutting down. The newsletter had grown to over 500,000 subscribers, but sources said it had struggled to secure ad revenue.
Apple reimagined its iconic logo in dozens of ways for its upcoming iPad event – here are all of the creative and cool designs. Apple has sent out colourful invites to the media for its October 30 launch event, where the tech giant is expected to reveal new iPads and more.
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