After the spike in pandemic growth, consumers are redirecting some of their spend away from apps and back to activities like travel and restaurants.

What's remarkable is that the advance of disruptive technologies -- everything from mobile ad blockers to Apple's ATT -- hasn't slowed it down.

"Delete Facebook" is once again trending on social media, this time due to news that Facebook provided law enforcement authorities in Nebraska with private chat messages that are being used in a criminal prosecution over an abortion.

"Social media apps may feel the burn, but traditional media will feel disintegrated," predicts Dustin York, a professor at Maryville University who follows media economics.