BuzzFeedTuesday morning’s earnings call by NASDAQ highlighted a continuing trend in technology: the consumer is moving away Meta‘s Facebook.

BuzzFeed CEO Jonah Peretti claimed that at this stage in the quarter audiences are spending less time on Facebook.

After Meta had reported Facebook’s daily active user numbers were slightly down, it is now. this past quarterAt 1.93 Billion, it was its first quarter-end decline. Facebook’s quarterly decline of approximately 500,000 could indicate that it has reached saturation in its product worldwide and has lost its ability to grow users.

Meta’s main Facebook app, Meta, has had to catch up with its competitors including TikTok and Instagram. This short-form video clip feature allows users to share their thoughts. In an effort to engage its audience, Reels is a company’s own short-form feature.

Meta CEO Mark Zuckerberg told investors that there are many choices when it comes to how people spend their time. This is why Reels’ long-term importance is crucial.

Zuckerberg said that impression growth will continue to be under pressure due to competition, the shift towards short-form videos, and our emphasis on young adults over optimizing overall engagement.

BuzzFeed’s commerce segment has been the focus of BuzzFeed. According to Peretti, most of its traffic from Facebook has gone to shopping content. Peretti stated that the “shift in audience away” from Facebook has “disproportionately affected” its commerce revenue. Peretti stated that he anticipates this trend to continue in the first quarter.

Peretti explained that “we are leveraging the cross-platform distributor network to expand our commerce businesses to the fastest growing platforms. This will reduce our dependence on any single platform over the coming years.”

Digital media company, which reported net income last year of $26million on revenues of $398million, showed revenue growth of 24% over the prior year. New plans were also presented to accelerate profitability. These included a decrease in force. In morning trading, shares rose by 2%