Advertising news today: Facebook sued, Pinterest revamps ad platform

Mark Zuckerberg,
Facebook’s CEO and chairman.
Reuters

A group of small advertisers is suing Facebook and claims the
social network knew about measurement miscalculations for a year
before they were reported.

The group dubs itself LLE One and includes Las Vegas-based social
media firm Crowd Siren and Social Media Models as well as defunct
startup Quirky.

The group filed a lawsuit in California’s federal courts in 2016
and added a complaint Tuesday claiming that internal records
suggest “Facebook’s action rises to the level of fraud.”

To read more about the lawsuit, click here.

In other news:

Pinterest just overhauled its self-serve ads platform —
and it could be a move to get advertisers of all sizes on board
ahead of an IPO. The company has unveiled a suite of
new tools designed to make it easier for large brands, ad
agencies, and small businesses to advertise on the platform and
get relevant insights.

Here’s why Netflix’s CEO says the company doesn’t need to
diversify into new businesses, even as Disney, AT&T, and
Facebook try to carve up the streaming market. CEO
Reed Hastings said it’s because there’s more than enough room to
grow in streaming for years into the future.

Meanwhile, Facebook has also admitted that data collected
by its Portal devices could be used in targeted ads.
The Portal and Portal Plus are AI-powered smart speakers and
video-chat devices that live in your home and let you call your
Facebook friends.

ABC says ‘The Conners’ will be the biggest new TV show of
the season, even if just half of the ‘Roseanne’ audience
watches. The Roseanne spin-off premiered on ABC on
Tuesday.

MTV is bringing back ‘The Real World’ for Facebook Watch,
and will let the audience vote on the direction of the
show. The Facebook Watch seasons will be created
specifically for the US, Mexico, and Thailand.