Facebook is an excellent way to get information out to a marketer’s target audience, if the audience is on the site. However, recently companies have had a hard time knowing who is viewing their videos, how long they are being viewed for, and how successful the video is in catching their interest. Reports have shown that the descriptions of audience numbers that Facebook has been giving to advertisers were inaccurate, and Facebook has been trying to fix its inaccurate measuring methods and save their reputation as a go-to vehicle of communication. Facebook has apologized for overstating the measured video viewership, but claimed the errors are not monumental since metrics is not involved with billing the advertisers. Since these reports about the social network overstating the size of monthly audiences by more than twice the actual amount were released, the ad industry has wanted more openness from Facebook. They have ensured more transparency by relying on third parties to verify its numbers and to work with companies to show more accurately the number and length of views. Agencies have also insisted on knowing how successful their ads perform on other websites, how often their competitors run ads, and how long most people actually use Facebook on a daily basis.
Facebook video has otherwise proven to be a very effective mode of advertising. With the ability for users to easily share videos, the chance of these advertisements going viral increases. Facebook has recently been focusing a lot more on its live video product. They have been paying BuzzFeed $3.05 million per year to publish live video, as well as The New York Times and CNN. These heavy amount of resources going towards the development of Facebook Live shows how much the social network relies on it to be successful. Facebook has also been trying to convince companies to jump to Facebook Live. This has been a tough feat since it is hard for companies to make high quality videos on the fly.
Facebook Live has not been as successful as they anticipated as of now. The livestreams posted by big media companies like NBC only make up 15% of the top 200 most-viewed live videos since it has started—the majority is posted by celebrities and public figures. However, in regular Facebook video, the media companies are the most-viewed.