Acting on the reports about video metric miscalculation, Facebook today on its blog providing further clarity on the issue said, "about a month ago, an error in calculating video metric "average duration of video viewed" was detected.
The metric should have reflected "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 (watched for three or more seconds)." This is when the miscalculation overstated this metric, explained facebook.
As soon as "we discovered the discrepancy, we fixed it." Adding, the company assuring their clients said, "this miscalculation has not and will not going forward have an impact on billing" or "how media mix models value their Facebook video investments."
In addition, marketers also has choice of using third-party video verification options with companies like Nielsen and Moat.
Further, they note, after reviewing other video metrics on the dashboard, they found no impact on video number shared in the past such as "time spent watching video" or the "number of video views."
But this isn't just about this error. "This is about how seriously we take our partners' commitment to our platform, and how their investments with us wholly depend on the transparency with which we communicate."
"Our clients' trust and belief in our metrics is essential to us and we have to earn that trust," stated facebook.