For media what they measure their growth in is total time (attention) spent on the platform. Even with 2 billion people signed up being the growth ceiling in te

For media what they measure their growth in is total time (attention) spent on the platform. Even with 2 billion people signed up being the growth ceiling in terms of number of people. We need to see whether they manage to increase (# people) * (average time spent on Facebook). That number still has a huge upward potential. Declining number of daily visitors is a sign that this growth is negative too though. I don't think that messengers can really replace social media. I don't spend time on a messenger if I'm not messaging someone. Facebook is more about posting something you find interesting, and consuming what other people post (+ adds interspersed). This is a completely different market. Will something replace Facebook? Surely, at some point. But I don't think it will be messengers. It will be another service that makes people feel like they get more of the content they want from their friends.