But it's not all bad news for the social media giant. While Facebook's namesake product may be headed for turbulent times, it still has great potential in three of its products: Instagram and messaging apps WhatsApp and Messenger.
"On average, people only access nine apps each day, so Facebook has 30 percent of the attention market on mobile as it has Facebook, WhatsApp and Instagram," said Marco Rimini, chief development officer at Mindshare. "The challenge is to leverage that portfolio and capture different moments and additional consumers."
It's not like Facebook itself is going away. The company still has 2.23 billion monthly active users and is still experiencing growth in the Asia-Pacific region. While usage is flattening in North America and Europe, worldwide daily active user numbers were up 11 percent from a year ago to 1.47 billion people, with gains led by new users in India, Indonesia and the Philippines. In the Asia-Pacific region, advertising revenue was up more than 10 percent sequentially and a whopping 47 percent from a year ago.
The company also has 2.5 billion monthly active users across all its properties, a stat Facebook shared for the first time on its earnings report Wednesday. If they turn away from Facebook, there's a chance they're still using a Facebook product.
"First, it refers to individual people rather than active accounts, so it excludes when people have multiple active accounts on a single app," CEO Mark Zuckberberg said on the earnings call about the 2.5 billion user stat. "And second, it reflects that many people use more than one of our services."