Apparently, for the past two years Facebook only counted video views of more than 3 seconds when calculating its “Average Duration of Video Viewed” metric.
Video views of under three seconds were not factored in, thereby inflating the average.
The Skinny:
☕ The error was discovered about a month ago by Facebook engineers.
☕ The 'average duration of video viewed' metric should have been calculated as the total time spent watching a video divided by the total number of people who played the video.
☕ Instead, it reflected the total time spent watching a video divided by only the number of “views” of a video (that is, when the video was watched for three or more seconds).
☕ As a result, the earlier counting method likely overestimated average time spent watching videos by between 60% and 80%, according to what the ad buying agency Publicis Media was told by Facebook. http://tgcafe.it/2dwe0kr
☕ To Facebook's credit, as soon as the discrepancy was discovered, it was fixed.
☕ Facebook also informed their partners and made sure to put a notice in the product itself so that anyone who went into their dashboard could understand the error.
☕ According to David Fischer, vice president of business and marketing partnership at Facebook, "We have also reviewed our other video metrics on the dashboard and have found that this has no impact on video numbers we have shared in the past, such as time spent watching video or the number of video views." http://tgcafe.it/2cWVDmB
☕ In the same post, David Fischer has also "sincerely apologized for the issues this has created for our clients."
Of course, due to the miscalculated data...
☕ marketers may have misjudged the performance of video advertising they have purchased from Facebook over the past two years.
☕ it also may have impacted their decisions about how much to spend on Facebook video versus other video ad sellers such as Google’s YouTube, Twitter, and even TV networks.
More at +Wall Street Journal http://tgcafe.it/2dwe0kr
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