A new report has revealed that people are spending less time on Facebook
Buzzfeed highlighted the continuing trend as users move away from Meta’s platform.
For the first time ever, Meta reported a quarterly decline with daily active users dropping to 1.93 billion.
The drop in about half a million users could indicate that Facebook’s ability to add loads of users has peaked.
This comes as Facebook continues to be pressured by competitors including Instagram and TikTok that have become increasingly popular for their short-form video clips.
Meta’s chief Mark Zuckerberg explains that this is why the company’s “focus on Reels is so important over the long term”.
The changes have impacted Buzzfeed’s commerce revenues heavily as it relies on traffic from Facebook to drive its shopping content.
Buzfeed says it is leveraging its “cross-platform distribution network to extend” its “commerce business to the faster growing platforms, thereby reducing” its “dependence on any one platform over the next couple of years”.
