What you need to know in advertising today

Facebook, Google, and Twitter have spent the past several weeks insisting they are committed to stopping the spread of misinformation and malicious speech on their platforms.

But early on Monday, viral fake-news stories ricocheted across the platforms and to the top of Google’s search algorithm — this time about the deadly mass shooting at a country music festival in Las Vegas late Sunday.

To read more about how fake news about the Las Vegas shooting spread wildly on Facebook, Google, and Twitter, click here.

In other news:

Facebook is responding to its Russian ads crisis by hiring 1,000 people to review its ads. “Reviewing ads means assessing not just the content of an ad, but the context in which it was bought and the intended audience – so we’re changing our ads review system to pay more attention to these signals,” the company said.

But the company’s response to Facebook’s response to fake Russian ads is not going to cut it. Here’s why throwing bodies at the problem is not tha answer.

Facebook also revealed that 10 million people saw Russia-linked ads on the platform. The admission came after Facebook representatives met with US lawmakers on Monday, and provides important new details about the scope and impact of a shadowy campaign to use the 2-billion-member social network as a propaganda tool.

eMarketer cuts Snapchat’s projected revenue for 2017 by $US128 million. The advertising research firm lowered its 2017 US ad revenue forecast for Snap from $US770 million to $US642.5 million, citing that Snapchat still “remains in the experimental bucket for many marketers.”

Speaking of Snapchat, the company was trying to build excitement for a mystery announcement on Monday, but totally blew it with a simple error. It mistakenly revealed a partnership with the legendary artist Jeff Koons, bungling what appeared to be an attempt to create suspense and anticipation ahead of a big announcement on Tuesday.

Adidas’ $US160 million contract with Louisville could be in jeopardy after FBI bribery investigation. After an emergency trustee meeting on Monday, the university’s interim president, Greg Postel, said that the school would “have to look at” the contract, ESPN reported.

Toys R Us is banking on futuristic tech to save its business after bankruptcy. Toys R Us is beefing up its online presence and revamping stores with a focus on interactive areas and augmented reality, Toys R Us CEO Dave Brandon told USA Today.

Google is going to stop punishing news sites that have paywalls. It used to have a policy called “First Click Free” that required sites that had paywalls to allow users to click through to a certain number of free articles a day via search.

Advertisers in the US are increasingly opting for shorter commercials, reports Axios. Almost 6% of all commercials aren’t 10-, 15-, 30-, or 60-seconds long during the first half of 2017, according to Nielsen’s 2017 Commercial & Advertising Update.

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