Facebook is in hot water again with advertisers and publishers.
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What you need to know in advertising today
Everything that you need to know in advertising today, from publishers blaming Facebook for layoffs to agencies 'hacking' Amazon's Alexa.
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% percent 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.
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Click hereto 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.
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