Facebook Inc. could pay $40 million to settle a lawsuit from advertisers over miscalculated video metrics. The legal battle began in 2016 after Facebook disclosed it had incorrectly calculated the average viewing time for video ads on its platform. Facebook argued that the impact was minimal because the company doesn’t bill advertisers based on video watch time. “This lawsuit is without merit but we believe resolving this case is in the best interests of the company and advertisers,” a Facebook spokeswoman said in a statement. In the second quarter of 2019, Facebook generated more than $16.6 billion in ad revenue, up 28% year over year.

Source: Wall Street Journal October 07, 2019 21:00 UTC