Twitter Admits Major Overstatement Of Mobile Video Ad Metrics

From StockNews.com: Embattled social media giant Twitter Inc (NYSE:TWTR) is in hot water with advertisers on its platform after revealing a major problem with its video ad measurement statistics.

A bug in its Android app reportedly inflated video advertising metrics by up to 35%. Twitter notified advertisers about the problem earlier this week, but only released public information about the blunder on Thursday.

The company commented via statement:

“We recently discovered a technical error due to a Twitter product update to Android clients that affected some video ad campaigns from November 7 to December 12,” the spokesperson told Business Insider. “Once we discovered the issue, we resolved it and communicated the impact to affected partners. Given this was a technical error, not a policy or definition issue, we are confident it has been resolved.”

This ad metric issue is just the latest in a string of major problems the company faces. Twitter has had problems growing its active user base for quite some time, and it failed to find a buyer in a very public attempt to try and shop itself earlier this year. Many of its top executives have also departed the company in 2016 as well.

Rival Facebook also admitted several issues with its own ad metrics recently. Advertisers are pushing for a third party industry-wide service that can fairly evaluate important numbers, like audience reach and engagement, because many platforms have proven unable to accurately report the metrics.

Twitter shares fell in premarket trading Friday. Year-to-date, TWTR has fallen -29.07%, versus a +10.55% gain in the benchmark S&P 500 index during the same period.

TWTR-2016-12-23

TWTR currently has a StockNews.com POWR Rating of C (Neutral), and is Ranked #27 of 44 stocks in the Internet category.

This article is brought to you courtesy of StockNews.com.

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico