What you need to know in advertising today

Mark ZuckerbergMark 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.
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