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lol welcome to current year++

It all feels very five years ago. As we've documented, starting around 2016, Facebook executives including Mark Zuckerberg began pushing the notion that news video on Facebook was publishers' bright future, a “new golden age.”

It turns out that the metrics that Facebook was using to measure engagement with news video were wrong, massively overestimating the amount of time that users spent consuming video ads. In 2019, Facebook settled a lawsuit with those advertisers, paying them $40 million (while admitting no wrongdoing). But it was too late for the publishers who'd already pivoted to Facebook video and then either made big cuts or shut down completely when it turned out people weren't actually watching.

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Poor advertisers :marseysad:

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FB always did shady ad metrics, but there's no doubt video is basically Metas main business these days on instagram/threads/fb

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